11 Jun 2015
SEB: EUR/GBP move below 0.7267 to see further declines – eFXnews
FXStreet (Barcelona) - The Technical Strategy Team at SEB sees additional losses possible for EUR/GBP towards 0.7127 levels on a break below 0.7267, as noted by eFXnews.
Key Quotes
“Our assumption of wave C having been put in place has been challenged but again (this time 2.5 points above the first attempt) the market sold the 78.6% Fibo point, the ideal target for wave C (if continuing to build the bearish triangle). A break below Monday’s low, 0.7267 should now trigger additional selling and a continued journey towards the 0.7127-area.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Our assumption of wave C having been put in place has been challenged but again (this time 2.5 points above the first attempt) the market sold the 78.6% Fibo point, the ideal target for wave C (if continuing to build the bearish triangle). A break below Monday’s low, 0.7267 should now trigger additional selling and a continued journey towards the 0.7127-area.”
This content has been provided under specific arrangement with eFXnews.