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22 Oct 2013
EUR/GBP trading like Friday’s low was springboard for the next big move higher
FXstreet.com (Barcelona) - The EUR/GBP cross may have set a low and may now be in the early stages of a nice move to the upside.
EUR/GBP traders have only British data to digest Tuesday
EUR/GBP traders will get to trade off of the release of British Public Sector Net Borrowing data at 8:30 GMT. Analysts are expecting a month over month drop from 11.452 Billion pounds to 10.40 Billion pounds.
Technical outlook for EUR/GBP
Technicians say the EUR/GBP cross likely put in a short-term low Friday at 0.8440. Likely upside targets for this move come in at 0.8529 to 0.8544 – although “correction resistance at 0.8505 must be taken out first.
EUR/GBP traders have only British data to digest Tuesday
EUR/GBP traders will get to trade off of the release of British Public Sector Net Borrowing data at 8:30 GMT. Analysts are expecting a month over month drop from 11.452 Billion pounds to 10.40 Billion pounds.
Technical outlook for EUR/GBP
Technicians say the EUR/GBP cross likely put in a short-term low Friday at 0.8440. Likely upside targets for this move come in at 0.8529 to 0.8544 – although “correction resistance at 0.8505 must be taken out first.