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    GBP to EUR Forecasts

    GBP/EUR Longterm forecasts - Currency markets are increasingly optimistic about the pound after the resolution of Brexit and good vaccine roll-out in the UK.

    Forecasts Updated: Jul 19, 2021

    EUR/GBP – closed on Friday in New York at 0.8577 (0.8545 close a week ago). EUR/GBP hit a weekly peak at 0.8597 which was a week ago. Weekly low traded was at 0.8503 on Thursday following the release of weaker-than-expected UK PPI Input and Output data. EUR/GBP steadily climbed to its 0.8577 finish on Friday.

     
    GBP to EUR at 1.1698 is 0.6% above its 90-day average, range 1.1487-1.1730.
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    British Pound Sterling to Euro forecasts

    The pound’s direction will be determined by any positive or negative headlines around the potential full reopening of the economy in England.

    GBP/USD – closed the week at 1.4160 (1.4210 last week). The Fed’s hawkish shift hit the Pound hard, pushing it 1.6% lower in 2 days. GBP Forecasts

    The topside of the EUR/USD is now limited to 1.2000 and the risk is for a move to the next support at 1.1700. EUR Forecasts

    Sterling started 2021 strongly against the euro trading at its best levels since April/May last year, after the resolution of Brexit and good vaccine roll-out numbers in the UK.

    Saxo Bank see EUR/GBP lower in the short-term (next few months) but higher by the end of the year once the chaotic vaccine roll-out on the continent is finally sorted out.

    ING have upgraded their sterling to euro end-2021 forecast from GBP/EUR 1.13 to 1.18 (EUR/GBP 0.88 to 0.85). They predict with the risk of a ‘no deal’ Brexit out of the way, sterling will reap the benefits of a faster vaccination rollout in the UK relative to the eurozone.

    Further out ING see GBP/EUR at 1.17 (EUR/GBP at 0.85) in the second half of this year and GBP/EUR at 1.22 (EUR/GBP at 0.82) by the end of 2022.

    Note that forecasts and predictions for the GBP/EUR exchange rate change all the time, affected by news events and relative sentiment towards the UK and Eurozone economies and this exchange rate is even more volatile than usual because of the uncertainties around Brexit.

    You can read more about GBP cross-rate forecasts here GBP Trends and Forecasts for 2021.

     

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    What is a good GBP to EUR exchange rate?

    Whether the euro will rise or drop in the future against the pound is a difficult question and the answer really depends on many factors. The best way to consider the current GBP-EUR relative value is to check the change in the exchange over a range of periods to the present day. The below table does this for periods going back 10 years.

    GBP/EURChangePeriod
    19 Jul 2021
    1.1591
    1% 1 Week
    26 Jun 2021
    1.1633
    0.7% 30 Days
    27 Apr 2021
    1.1500
    1.8% 90 Days
    26 Jul 2020
    1.0982
    6.6% 1 Year
    27 Jul 2016
    1.1950
    2% 5 Years
    29 Jul 2011
    1.1407
    2.7% 10 Years

    GBP/EUR rate change to 26-Jul-2021 → 1.1711

     

    Disclaimer: Please note that the currency forecasts and opinions of our authors should not be taken as a reference to buy or sell any financial product.