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    Currency outlook GBP/EUR

    GBP to EUR Forecast & Outlook

    Latest GBP to EUR forecasts including bank predictions, key market drivers and recent trends for GBP/EUR. See where analysts expect the pair to move and the factors likely to influence it.

    GBP to EUR Forecast & Outlook

    28 Jul 2026 • 00:25 GMT

    GBP/EUR 1.1689

    Forecast snapshot

    Quick GBP/EUR forecast

    Near-term bias🔴 Mild downside
    Expected range1.1260 – 1.1690
    Dominant driver🌍 Global risk sentiment
    3-month trend⚪ Range-bound

    Currently, GBP/EUR is trading near 14-day lows around 1.1689, just above its 3-month average of 1.1611. The pair remains within a narrow 3% range, supported by risk-off conditions and geopolitical tensions that favor safe-haven assets. Over the next few sessions, the pair may continue consolidating within its recent range as risk sentiment keeps GBP under pressure.

    💸 Transfer implications

    • Expats: sending money to Euro countries may face less favourable conditions if GBP remains weak.
    • Travellers: buying Euro cash or loading currency cards may find rates not significantly improved.
    • Businesses: paying Euro invoices in GBP could see less advantageous exchange rates if the pair remains pressured.

    🧭 Key drivers

    • Rate gap: The Bank of England's cautious stance and flat yield gap support GBP weakness.
    • Risk/commodities: Ongoing geopolitical tensions sustain risk-off sentiment, pressuring risk-sensitive FX.
    • Global factors: Elevated Middle East tensions and energy prices keep risk aversion elevated, impacting EUR stability.

    ⚠️ What could change it

    • Upside risk: A resolution of geopolitical tensions or a shift in risk appetite could support GBP recovery.
    • Downside risk: Unexpected escalation in geopolitical or economic stress may further weaken GBP or deepen euro stability.

    BER suggests comparing FX providers to offset less favourable conditions and explore lower margins to reduce transfer costs.

    GBPEUR Bank Forecasts to end of the year

    According to recent forecasts, major banks expect the EUR/GBP pair to trend higher by the end of the year. This is primarily due to expectations of limited monetary action from the Bank of England and ongoing economic pressures on the UK. Rabobank anticipates the pair moving towards 0.89, while ING expects it to breach 0.88, with further gains projected as the year progresses. The collective view indicates a gradual strengthening of the euro against the pound.

    Big bank views

    • Rabobank predicts EUR/GBP could reach 0.89 by year-end due to UK-specific risks and inflation concerns.
    • ING forecasts EUR/GBP to rise above 0.88 by year-end as domestic pressures on sterling strengthen the euro.
    • ING also projects a continuation of this trend into 2027, with EUR/GBP potentially reaching 0.90.

    What could change the outlook

    • Significant policy shifts from the Bank of England could alter sterling's trajectory.
    • Unexpected geopolitical or economic disruptions impacting eurozone stability might slow the euro's gains.

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    Rate direction

    GBP to EUR market data

    British pound (GBP) to euro (EUR) market data - latest interbank exchange rate, trend, chart & historic rates.

    Sell GBP   →   Buy EUR
    1 GBP =
    1.1666We compare provider deals to this wholesale mid-market rate. Read more
    EUR
    1d−0.2%▼
    GBP to EUR is at 14-day lows near 1.1689, just 0.7% above its 3-month average of 1.1611, having traded in a very stable 3.0% range from 1.1462 to 1.1811
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      1 EUR = 0.8572 GBP
     

    Will the British pound rise against the Euro?

    This is always a difficult question as exchange rates are influenced by many factors, so a good method to consider the British pound vs euro current value is to look the GBP/EUR historic rate and change over a range of periods.

    The following table looks at the change in the GBP to EUR exchange rate over periods from the previous week back to the last 10 years.

    DateGBP/EURChangePeriod
    14 Jul 2026
    1.1727
    		0.3% ▼2 Week
    29 Apr 2026
    1.1543
    		1.3% ▲3 Month
    28 Jul 2025
    1.1520
    		1.5% ▲1 Year
    29 Jul 2021
    1.1743
    		0.4% ▼5 Year
    30 Jul 2016
    1.1837
    		1.2% ▼10 Year
    02 Aug 2006
    1.4669
    		20.3% ▼20 Year
    GBP/EUR historic rates & change to 28-Jul-2026

    It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

    To help with this you can add GBP/EUR to your personalised Rate Tracker to track and benefit from currency movements.

     
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