The euro has been trading at just above the 86p level against sterling since then, with the calling of a general election in the UK having little impact on the currency. The election is the next big risk event for sterling. Another hung parliament, still deadlocked over Brexit, is likely to see sterling come under pressure again, with the euro rising back above the 90p level. Sterling could be expected to make further gains in such circumstances, but they may prove limited and short-lived. There is strong technical support for the euro at around the 84p-85p level against sterling, which may be difficult to overcome.

Source: Irish Examiner November 05, 2019 00:00 UTC