According to a report by Coin World, Kit Juckes, an analyst at Société Générale, stated that the British pound may weaken in the medium term due to the gloomy outlook for the UK economy. He pointed out, "Higher taxes are coming, economic growth will slow down, 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 for speculators to cover short positions to obtain better entry points. Juckes expects that by the end of the summer, the chart support level for the euro against the pound may rise to 0.8700 and is likely to continue to climb.