EUR/GBP to move back towards 0.84over coming months – Danske Bank

EUR/GBP has approached 0.87. In the coming months, economists at Danske Bank expect the British pound to appreciate against the euro, thus, the pair is forecast at 0.84 in 12 months.

EUR/GBP a range play for the coming months

“We still widely consider EUR/GBP a range play for the coming months, with GBP currently trading in the weaker part of the range at just below 0.87. Further out, we expect GBP to appreciate vs EUR in a USD-positive environment, which is why we expect the cross to move back towards 0.84 in 12M.”

“We will look for GBP buying opportunities over the coming months as we do not yet like the timing.”