This Pound to Euro forecast discusses the impact of the EU referendum on the GBP/EUR exchange rate and looks briefly at factors that are likely to affect EUR exchange rates over the next few days.

Pound to Euro rate breaches key 1.30 level

The Pound breached the key 1.30 level against the Euro in trading yesterday and the key question now is whether or not we will see rates continue to improve? 1.30 is generally a key resistance level and indeed a pivotal point so the next few days will be key for anyone looking to buy or sell Euros.

To keep track of current exchange rates you can visit our live foreign exchange rates page.

There is very little out today in terms of economic data for the Euro or the Pound so the markets will generally be moving on market sentiment and the general feeling around the referendum in the U.K.

Although the referendum is generally taking all the headlines it is important to remember that there are a huge amount of problems still hanging around for many economies within the Eurozone. Greece is still finding life tough and appear to be struggling with each debt payment they make and I would be flabbergasted if we do not have another PIIGS of Europe sage, or similar in the coming months. Portugal, Ireland, Italy Greece and Spain were a huge concern only a short while ago, and although two of the five appear to be heading in the right direction I still feel that Mario Draghi’s broom is wearing out from sweeping the other problems under the carpet.

Monday morning brings the next data of interest for the Eurozone when we see manufacturing, services and production figures at 9:00am which may set the scene for the Euro throughout the course of trading on Monday.

Thank you for reading my Pound to Euro forecast, if you have any questions about GBP/EUR exchange rates I would be more than happy to answer them – you can email me directly at djw@currencies.co.uk.

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