Levels have climbed once more today for the GBPEUR pairing, this has been on the news that the government sold a stake in the RBS bank which they hold. This additional revenue going into the government pushed the value of the Pound up.
My personal view is that we will see rates climb further still this week. Wednesday and Friday will probably be Euro gain days but Thursday should be a big Sterling day. This is when we will have a host of economic data being released on the forecast of any interest rate change in the UK. The expectations are good, that this will confirm a climb within the next 8 months however maybe as soon as the end of 2015. When this has been provided the market will move positivity to price this live expectation in, plus with added demand for Sterling comes additional value.
So if you are a Euro Seller I would move tomorrow (Wednesday) and if I was a Euro Buyer I would be trading on Thursday.
For a full breakdown of what is happening and what could impact your market situation feel free to contact myself Steve Eakins – firstname.lastname@example.org