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EUR/GBP could struggle around 0.7555/75 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the upside in the European cross is expected to lose steam around 0.7555/75.

    Key Quotes

    EUR/GBP we suspect is not a base pattern but may in fact be a continuation pattern we have a number of critical resistances at .7555/75 and yesterdays price action is leaning more heavily to this being a continuation pattern rather than a base”.

    “Only a close above .7575 would encourage us to adopt an outright bullish outlook. For now we will look for failure at .7555/75”.
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