EUR/GBP further gains expected medium term – Danske Bank

The cross is expected to accelerate its upside in the next month, according to Jakob Christensen, Chief Analyst at Danske Bank.

Key Quotes

“EUR/GBP continued to edge higher on Thursday supported by the neutral ECB”.

“In addition, continuing uncertainty about the UK’s EU strategy and comments from Chancellor Phillip Hammond, where he played down expectations of large fiscal stimulus may also have weighed on GBP sentiment”.

“Technically, short-term momentum indicators for EUR/GBP have turned bullish, warning of further gains near term”.