EUR/GBP: target 0.86 in 12-months - Danske Bank

According to the Danske Bank's research team, the EUR/GBP cross is set to slide in the near-term and target 0.86 handle over the next 12-months.

Key quotes:

“We have lowered our 1M and 3M EUR/GBP forecasts to 0.88 from 0.90 and 0.89, respectively, as the deal about the first phase of the Brexit negotiations has eased concerns somewhat. We still expect the cross to remain relatively volatile within the range of 0.8650-0.90 in the near term. Longer term, the case for a lower EUR/GBP remains intact as Brexit uncertainty clarifies. We target 0.86 in 12M.”