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Thomson Reuters
Jul 04 - 02:36 PM
EUR/GBP - Close To Swiss Bank's Buy Recommendation Level
First appeared on eFXplus on Jul 04 - 12:00 PM
  • UBS last week issued a recommendation to go long EUR/GBP at 0.8800
  • EUR/GBP fell to a 1-week low a fraction shy of 0.8800 during the European am
  • Drop to threaten 0.8800 spurred by UK service sector PMI beat nL8N1U01Q4
  • Cross has remained close to the figure since then (0.8830 = pre-UK data low)
  • 0.8799 was June 26/27 low. Stop-loss on UBS long set at 0.8650, target 0.91
  • EUR/GBP was last at 0.8650 in April and last at 0.91 ten months ago

EURGBP: Click here

Source:
Thomson Reuters IFR Markets

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