EUR/GBP to march forward but sterling unlikely to collapse – ING

EUR/GBP remains tied to the 0.85 level. Economists at ING expect the pair to advance toward 0.86 in the coming weeks. 

Some weakness, but not a collapse ahead

“Given a deteriorating growth outlook in the UK, we expect some GBP weakness ahead and see a move to 0.86 in the coming weeks as likely. However, we do not see a sterling downtrend morphing into a collapse.”  

“With UK markets closed for two days, expect reduced GBP volatility into the weekend.”