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Mirror Mirror

Sterling/Euro likely direction

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Just been reading that Deutsche Bank have joined Morgan Grenfell in predicting parity between Sterling and the Euro early next year. I remember similar forecasts back in 2012/13 just before the Sterling started its rapid climb back towards 1.45.

However I now will have need of Euros over the next few months, so Im wondering what the Dosbods concensus thinks about the likely direction of that particular currency pair. Are the 2 banks to be believed, or are they just as clueless as the rest of us? Should I just change £15 or 20 k into Euros now or change it in 3 or 4 tranches only when I actually need the money?

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FWIW, I moved some cash savings into euros a few weeks back for this reason and it's been worthwhile. I'll likely keep them there as I'm off on holiday in Europe in a few weeks, and I reckon we've broken the resistance line for the last 10 years. How much higher EURGBP will go I'm unsure, but that's the general direction IMO.

TBH I'm watching GBPUSD as I agree with durhamborn on TOS that we're heading towards 1.40, and I'll move the cash to USD  if it approaches there.

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I have moved money from euros into pounds and yen in the past couple of weeks. That memory-addled simpleton Mr. Market seems to have forgotten the enormous numbers of problems in the EU. I will be looking for at least 0.82 for the EURGBP in the next year.

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