GBP/EUR Sitting Pretty in the 1.39s (Daniel Johnson)

Sterling’s rapid rise against the Euro continues now sitting in the 1.39’s with the current day high at 1.39336. I feel this trend is set to continue with the elusive 1.40 barrier in reach. I think we may hit some resistance, but if we do hit the 1.40 level I expect there to be a large amount of profit taking.

There is little data to be released this week that will be of any consequence, so with the Eurozone inflation forecast pulled back and Greece’s debt renegotiation being postponed I feel we will see Sterling strengthen further. I am starting to doubt whether or not the upcoming general election will cause any respite.

If you wish to call me to discuss your currency requirements I would be happy to assist and help you trade at the optimum time and help you obtain a very favourable rate, please do get in touch by calling me on 01494 787478 and ask for Daniel Johnson, alternatively drop me an e-mail on dcj@currencies.co.uk .

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