GBP/EUR Rates Hit 1.2770! (Matthew Vassallo)

GBP/EUR rates hit 1.2770 at today’s high, following an aggressive spike for the Pound yesterday. Sterling gained momentum early during Thursday’s trading following better than expected UK Retail Sales figures and this was the catalyst for yesterday’s spike.

With Sterling now getting close to a two year high against the single currency again, many investors will be hoping this positive momentum continues and pushed the Pound up towards 1.30 on the exchange. Personally I still feel we need to see another shift in market conditions in order for GBP/EUR to breach 1.30 and the EUR has found support around this level in the past.

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