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Sep 24 - 06:55 AM

EUR/GBP - After The Transition EUR/GBP Likely To Rally

By Jeremy Boulton  —  Sep 24 - 05:05 AM
  • FX markets are currently seeing significant position adjustment nL2N2GL072

  • Risky currencies purged. Bigger bets coming under pressure

  • Traders are very long EUR but only slightly long pound

  • EUR/GBP weighed at a time when it would logically be supported nL2N2GL086

  • After the transition period (more balanced risk) EUR/GBP likely to rally

  • EUR/GBP ranges underpinned by a thickening monthly Ichimoku cloud

  • Cloud 0.8843-0.8169 will be very tough to break

  • Targets drawn off this month's extremes at 0.9346 and 0.9508




EURGBP Click here

EURGBP targets Click here

Source:
Refinitiv IFR Research/Market Commentary

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