EUR/GBP might remain in the 0.7150-0.7400 range – KBC

FXStreet (Barcelona) - The KBC Bank Research Team views that EUR/GBP might remain supported at 0.71/0.7150 in the short-term and is unlikely to break out of its range.

Key Quotes

“Of late EUR/GBP was captured in a sideways consolidation range in the 0.7150/0.7400 area. The negative impact of the election uncertainty on sterling eased of late.”

“EUR/GBP shifted into a wait-and-see modus. For now, we see no trigger to break this stalemate.”

“The uncertainty on the elections will probably prevent a sustained rebound of sterling, even in case of decent UK eco data. We see strong support in the mid 0.71/0.7150 area short-term.”