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14 Apr 2015
EUR/GBP 0.7222 support broken; confirmation needed – KBC
FXStreet (Barcelona) - The KBC Bank Research Team sees a EUR/GBP move lower towards 0.7010 possible if the break below the 0.7222 support is confirmed.
Key Quotes
“There was little fundamental news in the EUR/GBP cross yesterday. Trading was technically inspired. The EUR/GBP 0.7222 support, which held well in previous sessions, remained under pressure and finally broke on the second intraday attempt. The pair finally closed at 0.72.”
“In previous days, EUR/GBP held up well as cable was under sharp pressure, but yesterday cable failed to break below the cycle lows and outperformed EUR/USD.”
“If the break in EUR/GBP is confirmed it would be technically important and open the way for an encounter with the cycle low at 0.701.”
Key Quotes
“There was little fundamental news in the EUR/GBP cross yesterday. Trading was technically inspired. The EUR/GBP 0.7222 support, which held well in previous sessions, remained under pressure and finally broke on the second intraday attempt. The pair finally closed at 0.72.”
“In previous days, EUR/GBP held up well as cable was under sharp pressure, but yesterday cable failed to break below the cycle lows and outperformed EUR/USD.”
“If the break in EUR/GBP is confirmed it would be technically important and open the way for an encounter with the cycle low at 0.701.”