June 5, 2024 – Written by David Woodsmith
STORY LINK Pound to Euro Exchange Rate Retreats as Traders Fail to Break Key Resistance
After sharp losses ahead of Friday’s US open, the Pound to Euro (GBP/EUR) exchange rate found support close to 1.1710 but rallies stalled in the 1.1750 area and there was a net retreat to 1.1725 on Monday.
Given the overall fundamentals, ING expects further GBP/EUR selling interest on approach to 1.1765.
Although the ECB has effectively promised to cut interest rates at this week’s meeting,…
Read More