Originally Posted by JohnH
In short the Euro is not getting stronger against sterling anytime soon IMHO.
The euro zone has just started quantitative easing in an attempt to avoid deflation and/or stagflation. In addition the nice folks in Greece have just elected a left wing government and are reneging on previously agree austerity measures with the result the Greek bonds aren't accepted as collateral by the ECB which will result in more turmoil in the Euro area.
Furthermore Euro / Stg futures on the CME show rates at about the current level until the middle of 2016 which is probably the best indicator that the market expects the picture not to change much.