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You are here: Home / British Sterling / Will Sterling Continue It’s Rebound against the Euro?

Will Sterling Continue It’s Rebound against the Euro?

March 9, 2016 by Joe Wright

Will Sterling Continue It’s Rebound against the Euro?

euro and pound notesSince bouncing off of a recent support level around the 1.26 mark, Sterling has since continued to recover when paired with the Euro with current levels approaching the 1.30.

Whether this trend will continue or not could be determined this week, as today we have a busy day in terms of economic data releases for the UK, and tomorrow we have the main event of the week, the ECB Monetary Policy meeting whereby speculation persists that further Quantitative Easing is on the cards which is bound to have an effect on the value of the Euro.

This morning at 9.30 key Industrial and Manufacturing Data is scheduled for release, and later on today we have the release of the NIESR (National Institute of Economic and Social Research) estimate on GDP which is estimated at 0.4% for this year so far.

I think Sterling’s recent run could be boosted if today’s figures are positive along with an announcement by Mario Draghi tomorrow that further QE is on the cards. Should this be the case I am expecting GBPEUR to break its current resistance level of 1.30.

Filed Under: British Sterling Tagged With: ECB, GBPEUR, Gross Domestic Product (GDP), Quantitative Easing (QE)

The information on this website is provided for information purposes only. It does not constitute advice to any person on any matter. Every reasonable effort is made to ensure that the information is accurate and complete but we assume no responsibility for and offer no warranty with regard to the same.

About Joe Wright

Joseph Wright brings a wealth of experience on the currency markets. He has worked in a number leading financial services organisations over the last seven years - working within a range of products including foreign currency exchange, equities and derivatives.

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