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GBP to EUR Forecast

The coronavirus pandemic has replaced Brexit in the headlines for 2020 which is favourable for GBP.

British Pound Sterling to Euro bank forecasts

GBP will rise to 1.20 per euro according to Standard Bank. The coronavirus pandemic means that the deadline for a trade deal this year could either be pushed back, delaying a risk for the currency, or see more favorable terms given to the U.K.

The GBP to EUR exchange rate jumped to 1.19 in early February when Mark Carney – in his final press conference as Governor of the BoE – stated: “The UK economic performance has not been so far so good, but so far good enough. Although the global economy looks to be recovering, caution is warranted” and “Evidence of a pick-up in growth is not yet widespread.”

You can read more about GBP cross-rate forecasts here GBP Trends and Forecasts for 2020.

GBP/EUR - 90 day trend
ALERT:30-DAY LOWS |
GBP/EUR at 1.1119 was trading 2.3% below AVG:1.1375 with LO:1.0615 and HI:1.2042 (90 days). ALERT: GBP/EUR dropped to 30-DAY LOWS.

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.

What is a good GBP to EUR exchange rate?

This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate's relative value is to look at the rate's history.

The following table looks at the change in the GBP to EUR exchange rate to the present day for periods going back upto 10 years:

 
GBP/EURPeriod to 29-MayDateRate
0.4% ▼1 Week22 May 20201.1161
3% ▼30 Days29 Apr 20201.1464
4.4% ▼90 Days29 Feb 20201.1627
1.8% ▼1 Year30 May 20191.1327
20.2% ▼5 Years31 May 20151.3928
7% ▼10 Years01 Jun 20101.1958
GBP/EUR 10 year rates & changes to 29-May-2020 (1.1119)
 
Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.
 
 

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