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GBP/EUR – Sterling shows Resilience (Daniel Johnson)
GBP/EUR currently sits very close to 1.43. One of the best trading levels for Euro buyers in the last 8yrs. I feel Sterling is currently over valued, GBP is only in this spot due to the Greece debacle, but with some above average data releases in the UK and Mark Carney indicating there may be a rate hike, Sterling is higher than ever. If I was buying Euros I would get it done, it truly is an exceptional time to be buy.
If you are selling Euros in the short term you are in a difficult spot. I did indicate to some of my clients yesterday when we saw a trough it may be a good time to move. However it is difficult for people to accept any loss on trading back their Euros. With the Greek saga set to continue for a minimum of 2-3 weeks I wouldn’t expect any significant movement in the Euro’s favor. It may be wise to move when we see a trough such as yesterday when GBP/EUR dropped from the high 1.43’s into the high 1.41’s.
I do provide a rate alert service if you would like me to monitor the situation for you, I also have some rather large GBP/EUR trades going through in the coming days which potentially I can tag new clients on to to achieve a very competitive rate.
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 at [email protected] or call on 01494 787 478 and ask for Daniel Johnson.
Source: http://www.poundsterlingforecast.com/2015/07/22/gbpeur-sterling-shows-resilience-daniel-johnson/
