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EUR/GBP: a test of 0.7567 remains on the cards – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the possibility that the cross could test the 0.7565 area.

    Key Quotes

    EUR/GBP has eroded its near term uptrend and sold off to the 23.6% retracement at 0.7702, where it currently sits”.

    “The risk is that we will see a deeper retracement to .7565, 38.2% retracement and potentially 0.7454, the 50% retracement”.

    “The market increasingly looks to have topped here and we will for now neutralise our forecast”.
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