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EUR/GBP focus on 0.7555/75 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the focus of attention in the cross has shifted to the 0.7555/75 band.

    Key Quotes

    EUR/GBP is bid and about to encounter major resistance at .7555/75”.

    “It is undecided if this is a longer term base or a continuation pattern – one is bullish and one bearish. We favour a continuation pattern (bearish) as we have a number of critical resistances at .7555/75”.

    “Only a weekly 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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