The Pound to Euro (GBP/EUR) exchange rate remains under pressure after the Bank of England’s decision to leave interest rates unchanged and signal further cuts into 2025. The Pound fell sharply, testing support at 1.2030, where buying interest has emerged. While holiday-thinned markets could exaggerate moves, analysts remain optimistic about a medium-term recovery into the early 1.20s, supported by Eurozone challenges in France and Germany and expectations of deeper European Central Bank rate cuts. However, a sustained recovery would require a break above key resistance, such as the nine-day exponential moving average.

The Pound to Dollar (GBP/USD) exchange rate has fallen to a seven-month low of 1.2472 amid U.S. political turmoil and safe-haven Dollar strength. Republican opposition to a bipartisan spending bill and President-elect Trump’s tariff threats have heightened market anxieties. Technical indicators suggest further downside, with the April 2024 low of 1.23 in focus. The Pound remains vulnerable in the near term, with its trajectory likely influenced by developments in U.S. fiscal and trade policies heading into 2025.

Please see below Christmas opening times:

Monday 23^rd                    -             08:30 – 17:30

Tuesday 24^th                    -             08:30 – 13:00

Wednesday 25^th             -             Closed

Thursday 26^th                 -             Closed

Monday 30th                    -             08:30 – 17:30

Tuesday 31^st                     -             08:30 – 13:00

Wednesday 1^st                -             Closed

Thursday 2^nd                    -             08:30 – 17:30