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Long EUR/GBP: EUR lifted by risk, GBP hit by Brexit – SocGen

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Olivier Korber, Derivatives Analyst at Societe Generale, suggests that EUR/GBP upside is likely to gain even more momentum in the coming weeks.

    Key Quotes

    “On the one hand, EUR/USD remains supported by risk aversion and the Fed leaning to the dovish side. On the other hand, Brexit concerns are to the fore in the UK and today weak IP adds to downside risks. The European Council meeting on 18-19 February could prove pivotal to finding a mutually satisfactory solution. In that event, the referendum could be held as soon as June.

    A more tactical approach may now be appropriate in the current context of acceleration. Our technical analysts signal that EUR/GBP is now breaking the 0.7750 resistance. A sustained move above will signal an extension towards the September 2014 highs of 0.8070/0.81.”
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