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Will the pound hit 1.20 again?

Friday, November 4, 2016 10:26
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(Before It's News)

Will we see 1.20 again is a question we can begin asking again since GBPEUR has risen on the news that the UK will now be seeking parliamentary approval to invoke Article 50. Most clients looking to buy Euros have been faced with 1.10 but now can realistically dream of higher levels! If you see any QE (Quantitative Easing) from the ECB (European Central Bank) then we could see a weakening of the Euro. If you have a tricky situation and are hoping rates will rise higher then making plans in advance is very much a smart move!

Looking to next week is the US election which could easily upset the GBPEUR rate as when an election is held we usually see the currency involved weaken before the event before strengthening after. If you need buy or sell euros this event will likely cause some big movement and it might be the pound falls and loses.

If you have a transfer to make then making plans in advance is a sensible move since there are so many uncertain things that might happen. All in all it is looking like a very shaky time but if the UK does not get a hard Brexit the pound may rise as we await fresh information. If you have a transfer to make involving the Euro then the next week is key. For more information at no cost or obligation then please speak to me Jonathan for the latest news by emailing jmw@currencies.co.uk

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  • The way things are going, I believe its likely scenario that we will see it again shifting towards 1.20 levels, but nothing can be said with guaranteed. I mostly target long term trades which are easier because of OctaFX broker and with their swap free account option, it’s very special and I never have to worry about anything at all and it’s something that keeps me entirely relaxed and comfortable with doing everything and allows me to gain regular profit with ease and comfort.

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