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British Pound (GBP) Forecast: Headwinds Persist - EUR/GBP Poised to Continue Bullish Trend


British Pound (GBP) Forecast: Headwinds Persist - EUR/GBP Poised to Continue Bullish Trend
Key Talking Points:
The Pound faces short-term risks which are putting pressure on an overly optimistic start of the year
EUR/GBP buyers consolidate further upside momentum
With supply issues causing the UK vaccination campaign to fall off track some of the Pound’s appeal has worn off. But the loss of its vaccine-related advantage is not the only cause for concern for the British currency as it faces other headwinds in the short term.
There is also a rise in tensions in Northern Ireland as unionists gather violently to show their opposition to the treatment of Northern Ireland in the post-Brexit trade deal. Whilst not necessarily a direct link to the currency, in conjunction with the looming Scottish election in May we are likely seeing some investors get jitterish about the current political climate in the UK, adding fuel to the current unwind in speculative positions ....

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