The Pound to Euro exchange rate (GBP/EUR) is technically and fundamentally poised for further gains in the near term, and a move to 1.1850 is on the cards for this week.
Pound Sterling rose after a survey of the UK economy beat expectations and eclipsed that of the Eurozone.
According to the consensus of investment bank analysts, Pound Sterling is left slightly undervalued following a recent slide.
The Pound to Euro exchange rate has recovered further from early August lows and could now be likely to spend the week ahead eroding technical resistance from the nearby 100-day moving average at 1.1747.