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22 Jun 2015
EUR/GBP ready for the next leg lower – JP Morgan
FXStreet (Edinburgh) - The down trend in EUR/GBP is expected to pick up pace in the medium term, suggested analysts at JP Morgan.
Key Quotes
“As for EUR/GBP we see a good chance of resuming the long-term downtrend towards 0.6906 and at 0.6664 (wave 3 projections) straight away, which however requires breaks below 0.7134 (int. 76.4 %) and 0.7068 (daily trend) to be confirmed”.
“Above, another corrective leg up to 0.7686 (int. 38.2 %), indicated on a break above 0.7217 (minor 38.2 %), can't be excluded yet”.
Key Quotes
“As for EUR/GBP we see a good chance of resuming the long-term downtrend towards 0.6906 and at 0.6664 (wave 3 projections) straight away, which however requires breaks below 0.7134 (int. 76.4 %) and 0.7068 (daily trend) to be confirmed”.
“Above, another corrective leg up to 0.7686 (int. 38.2 %), indicated on a break above 0.7217 (minor 38.2 %), can't be excluded yet”.