The UK's fiscal outlook is bleak, analysts predict the pound will weaken in the medium term.

According to 【Coin World】, Kit Juckes, an analyst at Société Générale, stated in a report that the British pound may weaken in the medium term due to the bleak outlook for the UK economy. He pointed out: "Higher taxes are coming, economic growth will slow, and the pound will further weaken." However, he believes that the decline of the pound may be gradual. Investors therefore need to be "very patient" or take advantage of the opportunity when speculators cover short positions to get better entry points. Juckes expects that by the end of summer, the chart support level for the euro against the pound may rise to 0.8700 and is likely to continue to rise.