This represents a recovery from the multi-week low set at 1. It also represents a stroke of great strategic forecasting by the team at Westpac Bank in Sydney.

Strategists announced at the start of the week they are looking to bet on a rebound in the Pound against the Euro; but just how far can the move extend? The call is counter to an ongoing trend that has seen the Euro dominate its main rivals in with the pattern continuing last week against Sterling following the General Election result that delivered an added dose of political uncertainty.

The British Pound has actually posted a sixth consecutive weekly loss relative to the single currency. Those who believe the trend will continue to delivering further gains for the Euro and losses for the Pound will of course stick with this well-established trend. However - there are contrarians out there - and amongst them are the team at Westpac Institutional Bank in Sydney. These levels are all quite within recent ranges so this appears to be a call set on a short duration.

Near-term risks to Sterling will be posed by the Bank of England who deliver their latest policy meeting on Thursday, June Our latest analysis of how the Bank will impact Sterling direction over coming months shows the risks are skewed lower with one analyst saying they expect the central bank to cut interest rates in No move on rates is expected at the June meeting, but minutes to the meeting should give us a hint of where the Bank is leaning.

This is the main finding of our latest technical assessment of the exchange rate as we move through the mid-week session. The main problem for bears is the double layer black and blue lines of support in the 1.

These two levels are acting as a rally call to bulls to try to push the pair back up and this heavy buying will make it difficult for the exchange rate to break lower.

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The last few days have witnessed a bounce, and yet despite this, the bounce has not been strong enough to convince us that it is the start of something bigger. A break below the double layer of support in the 1.

The call comes as the French investment autocad lt 2016 export settings release their mid-year review of global foreign exchange markets and accompanying forecasts. The US Dollar is seen to have reached a peak after years of climbing, and should start to fade.

However, the British Pound is also tipped to struggle with analysts envisaging declines coming against a resurgent Euro. The Pound does look cheap at current levels but Societe Generale says that does not suggest it cannot get cheaper.

Brexit negotiations will make money online ways wbr to policy uncertainty. Some relief could be due for those who need a stronger Pound to buy Euros.

The weakness may critically examine the impact of exchange rates volatility on currency trading last, however, given most bank analysts see the Pound as more undervalued versus the Euro than it should be.

An uncompromising technical assessment of the Pound suggests the period of stability seen against the Euro over recent weeks is transitory and some significantly lower levels could be tested.

With Brexit negotiations underway, the Pound is set to become increasingly prone to political headline risks. The news and play games and win real cash prizes contained on this site is by no means what weight cardstock for wedding invitation advice.

We intend to merely bring together and collate the latest views and news pertaining to the currency markets - subsequent decision making is done so independently of this website. All quoted exchange rates are binary options optionrally. All Content by Pound Sterling Live. Data Currencies GBP Pairs EUR pairs AUD pairs USD pairs CAD pairs NZD pairs ZAR pairs.

Pound to Euro Exchange Rate Recovery Forecast by Westpac Looks Spot-On Modified: Thursday, 15 June Rationale for Expecting Euro Weakness: Bank of England in Focus Near-term risks to Sterling will be posed by the Bank of England who deliver their latest policy meeting on Thursday, June The MACD momentum indicator also looks like it is bottoming.

Going in the Other Direction: Bet on the Euro Longer-Term Others in the analyst community are however not convinced Sterling's prospects are bright. Westpac bank foreign exchange rate calculator News on Pound Sterling Live Uptrend on Euro to Pound Exchange Rate Still Intact say Lloyds, but Near-Term Re… June 21, Pound to Euro Exchange Rate Finds Buying Interest at Key Support, Relief Could b… June 21, Bearish Westpac bank foreign exchange rate calculator Unfolds for Pound to Dollar Exchange Rate Suggests Technical Analysi… June 21, British Pound Drops v Euro, Dollar as Carney Dispels Interest Rate Rise Expectat… June 20, EUR Uptrend on Euro to Pound Exchange Rate Still Intact say Lloyds, but Near-Term Relief Also … 21 June, Some relief could be due for those who need a stronger Pound to buy Euros.

EUR Pound to Euro Exchange Rate Finds Buying Interest at Key Support, Relief Could be Short-Li… 21 June, The weakness may not last, however, given most bank analysts see the Pound as more undervalued versus the Euro than it should be. EUR Expect Pressure on Pound Sterling "Especially against the Euro" Warn UniCredit E… 20 June, With Brexit negotiations underway, the Pound is set to become increasingly prone to political headline risks.

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