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EUR/GBP: Bouncing larger – Commerzbank

Karen Jones, analyst at Commerzbank, notes that the EUR/GBP cross has offered off to and recovered from the .8754/78.6% retracement and is seen because the final defence for the .8655 November low.

Key Quotes

“Close to time period the market is bouncing larger from this assist and rallies ought to discover that the 55 and 200 day transferring averages at .8864, .8907 will supply first rate preliminary resistance. We search for the October .8941 excessive to comprise the topside.”

“Above .9101/20 would goal the highest of the 2016-2019 channel at .9165.”

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