GBP/EUR Trading Falls Below 1.26 (Matthew Vassallo)

GBP EUR Exchange Rate: Weekly Review July 16  

GBP/EUR rates have dipped below 1.26 on the exchange this week, as the Pound struggles to break through last week’s almost 2 year high. The Pound’s momentum has continued earlier this week, with following better than expected PMI data for the UK. The EUR has regained its position below this level and following further bullish statements from ECB president Mario Draghi on Wednesday, GBP has struggled to make up the lost ground. It does seem as if Sterling has hit a glass ceiling against the EUR and in order to see a sustained move through 1.26, we will need to see another shift in market sentiment.

If you have an upcoming currency requirement, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly at [email protected]