GBP/EUR could rally to 1.20 – Plutus FX

Steven Woodcock, Senior FX Analyst at Plutus FX feels people are misreading the fall in Sterling as a sign of fall in UK economy and states markets are complacent with regards to what’s going on in Eurozone.

Woodcock is of the opinion that market attention would shift from Sterling to US election and eventually to Eurozone, post which EUR/GBP could revisit 1.20 levels. He adds the sell-off in GBP is somewhat in line with broader US dollar rally. “Everything is coming off against the dollar, but no one is talking about EUR/USD drop”. He is joined by Tip TV’s Zak Mir and Charlie Gibson, Head of Mining at Edison Research.

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