EUR/GBP to move back below the 0.83 lelvel in the near-term – ING

EUR/GBP has been trading above the 0.84 level. Economists at ING expect the pound to regain some ground, dragging the EUR/GBP pair below the 0.83 mark.

Starting to recover

“The pound did not follow other European currencies higher in the rally induced by peace-talk optimism, and is now suffering very little from market doubts about an imminent de-escalation in the conflict.”

“The EUR/GBP downtrend may continue in the coming days, and we think a return to 0.83 remains likely in the near-term.”