Will the Euro continue to rise against UK Sterling in the near future?

Question

hi. i understand the factors the influence currency fluctuation. I am interested in views on: do people think the euro will continue to rise against the pound in the near future (i.e. next few months). thanks

Answer 1

EUR-GBP

A correction is down to 0.7971 followed buy a move up to 0.8007 or 0.8024. A break above 0.8042 would accelerate this bullish move and this trend will consolidate at 0.8100.

I think after touch this point we can see some bearish signals.

Answer 2

Only if the BoE cuts interest rates again, however that seems extremely unlikely in the near future. Otherwise, I can't see the Euro rising much higher than its current level.

If you look at the data, the Euro went from a low of 67p in July-August 2007 up to a high of 81p in mid-April 2008, but it has stayed relatively stable since then, hovering between 78p and 80p.

Answer 3

Short term, Euro is more bullish than UK Sterling. http://jsforex.blogspot.com

Answer 4

No if people stop buying or reducing their consumption in Euro.. The value of currencies depends on the level of importing, exporting, unemployment, etc