Forex Flash: EUR/GBP potential upside in medium term – Danske Bank

FXstreet.com (Barcelona) - EURGBP continues the bearish trend, circling levels last seen in 2008 and threatening to penetrate the support at 0.7800 as of writing. The sentiment surrounding the shared currency is lacklustre and the sterling is still suffering the consequences of yesterday's BoE minutes, althought remains quite resilient.

M.Helt, Senior Analyst at Danske Bank, suggested that "&Sterling seems somewhat too strong compared with a sharp move in relative rates following the ECTR announcement in June and we recommend EUR or DKK based clients with GBP income to consider hedging against a correction higher in EURGBP&"