EUR/GBP has continued to move higher since the beginning of the month. GBP strength has likely come to an end and analysts at Danske Bank see a flat forecast profile at 0.84 in the coming 12 months as well as look for new trends for the cross.

Looking for new trends in EUR/GBP

“Looking forward, on one hand, the positive USD environment is usually benefitting GBP relative to EUR. On the other hand, relative rates now seem supportive for EUR relative to GBP.”

“Overall, we keep our 12M target unchanged at 0.84, while we are looking for new trends in EUR/GBP.”