GBP to EUR Forecasts
The pound to euro exchange rate direction is being driven by the energy crisis and the lingering impact of the pandemic on full reopening of the economies in England and the Eurozone.
BER ResearchGBP/EUR Outlook
The outlook for the pound for October is very uncertain due to rising inflation, slowing growth and unemployment, the combination of which could create a nightmare scenario for the Bank of England Monetary Policy Committee.
OFX predict the GBP could range between 1.14 – 1.18 EUR in October.
| GBP/EUR was | Change | Period |
|---|---|---|
1.1711 04 Oct 2021 | 1% ▲ | 2 Weeks |
1.1571 20 Jul 2021 | 2.2% ▲ | 90 Days |
1.1032 18 Oct 2020 | 7.2% ▲ | 1 Year |
1.1195 19 Oct 2016 | 5.6% ▲ | 5 Years |
1.1491 21 Oct 2011 | 2.9% ▲ | 10 Years |
1.5983 23 Oct 2001 | 26% ▼ | 20 Years |
British Pound Sterling to Euro 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.
The outlook for the pound for October is very uncertain due to rising inflation, slowing growth and unemployment, the combination of which could create a nightmare scenario for the Bank of England Monetary Policy Committee.
OFX predict the GBP could range between 1.33 – 1.38 USD and against the euro between 1.14 – 1.18 EUR.
GBP OutlookDollar strength and German political uncertainty sees the Eurozone single currency on the decline and at 1 YEAR LOWS versus the greenback touching the 1.15 level vs the greenback.
There will be a close eye kept on Eurozone inflation data on October 29, any upside surprise could support the euro.
EUR OutlookSterling 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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Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.