Things seem to have calmed down after “Black Monday”, there seems to be some form of stability in the markets. I am bold enough to say the days of 1.40 are over and I still feel Sterling is overvalued. If you are looking to purchase Euros short to Medium term I would be tempted to get something done. There seems to be a resistance level around 1.37 at present.
Eurozone GDP figures are due in tomorrow and there is expected to be a rise, however I think the expectations are a tad high and if we see the figures come in lower than expected we see GBP/EUR break 1.37.
I am currently offering a free rate alert service, just drop a line or e-mail with your currency requirements and the levels you are hoping to obtain and I will notify you of movement.
Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me on [email protected] or call on 01494 787 478 and ask for Daniel Johnson.