Brexit is the dominating factor for GBP/EUR, with "no deal" likely to induce exchange rates below parity (€1.0) for the first time ever.
British Pound Sterling to Euro bank forecasts
With such obvious Brexit related uncertainties in play, analysts are reluctant to offer GBP forecasts. It is perhaps telling, though, that longstanding pound supporter Nomura decided in mid-May to terminate its buy recommendation on the currency.
Should Boris Johnson replace Theresa May as UK PM, a further decline in GBP/EUR below 1.1 is “very feasible,” one analyst said.
No-deal would have GBP/EUR below parity according to HSBC, for the first time ever.
You can read more about GBP cross-rate forecasts here GBP Trends and Forecasts for 2019.