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Coleman: Spotting the cracks in EURGBP

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EURGBP ended an aggressive period of selling on Monday, but Ian Coleman from First 4 Trading is not optimistic about the euro’s recovery. He views the move to the upside as corrective, and is looking to sell into this corrective trend.


The euro has been under increasing pressure ahead of Thursday’s European Central Bank announcement. There is bespoke resistance located at GBP 0.7696, which over the medium term is believed to push EURGBP lower. Ian is looking to sell at GBP 0.7695 with a stop placed at GBP 0.7715. He is initially targeting a move towards GBP 0.7690 and then to GBP 0.7630.

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