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4 May 2015
EUR/GBP needs to clear 0.7385 to target 0.7475 – TDS
FXStreet (Edinburgh) - According to strategists at TD Securities, EUR/GBP could reach 0.7475 if it surpasses the 0.7385 area.
Key Quotes
“EURGBP’s April dip failed to extend as far as we targeted at start of last month (0.7060) and now, the sharp rebound in the cross through the latter part of this week (and strong net gains on the week overall) clearly puts the potential for additional, short-term strength on the radar”.
“The fact that the rally has stalled around 0.7385 (high/low resistance) warrants attention as short-term price signals suggest that a minor high may be “in” for the cross into the end of the week”.
“Unless there is additional upside momentum for the cross early next week through 0.7385 (targets a quick rise to 0.7475), EURGBP may slip back to the low/mid 0.72s”.
Key Quotes
“EURGBP’s April dip failed to extend as far as we targeted at start of last month (0.7060) and now, the sharp rebound in the cross through the latter part of this week (and strong net gains on the week overall) clearly puts the potential for additional, short-term strength on the radar”.
“The fact that the rally has stalled around 0.7385 (high/low resistance) warrants attention as short-term price signals suggest that a minor high may be “in” for the cross into the end of the week”.
“Unless there is additional upside momentum for the cross early next week through 0.7385 (targets a quick rise to 0.7475), EURGBP may slip back to the low/mid 0.72s”.