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16 Mar 2015
EUR/GBP to bounce towards 0.7304/0.7405 – Danske
FXStreet (Barcelona) - Thomas Harr, Global Head of FICC Research at Danske Bank, expects EUR/GBP bulls to take the pair higher towards 0.7304/0.7405, above which would see a test of 0.7594 levels.
Key Quotes
“Bulls are now eyeing resistance in the 0.7304/0.7405 (2 March high/26 January low) area, which is seen as a tough barrier. However, through here it could extend to test the 3 February high at 0.7594. Further strength above the 2012 former low at 0.7756 is needed to raise hopes of a more enduring recovery.”
“Below 0.7014/10 threatens an extension lower towards support in 0.6893/67 (9 October 2007 low/14-19 March 2007 highs) area.”
Key Quotes
“Bulls are now eyeing resistance in the 0.7304/0.7405 (2 March high/26 January low) area, which is seen as a tough barrier. However, through here it could extend to test the 3 February high at 0.7594. Further strength above the 2012 former low at 0.7756 is needed to raise hopes of a more enduring recovery.”
“Below 0.7014/10 threatens an extension lower towards support in 0.6893/67 (9 October 2007 low/14-19 March 2007 highs) area.”