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Collins: Looking for lower levels in EURGBP and here's why

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July 15, 2015 aue, bonds, eur, eur usd, eurchf, eureur, eurgbp, eurjpy, eurjpy price, eurjpy price', euro, euro area, euro crisis, euro dollar, euro dollar strength, euro growth, euro high, euro inflation, euro pound, euro rates, euro sterling, euro strength, euro yen, euro zone, eurocrisis, eurodebt, eurodollar, europa, europe, europe crisis, europe gdp, europe growth, europe recession, european, european banks, european central bank, european central bank rate, european central banks, european commission, european economy, european equities, european growth, european monetary policy, european recovery, european union, eurozona, eurozone, eurozone crisis, eurozone economy, eurozone euro, eurozone growth, eurozone inflation, eurozone recession, eurozone recover, eurozone recovery, eurusd, eurusd bearish, eurusd trade, eurusd trade idea, fiorexforex, foprex, for, ford, forecast, foreign exchange, foreign exchange market, foreign exchange strategy, foreign exhcange, foreignexchange, forex, forex 2014, forex 2014 outlook, forex 2015, forex 2015 outlook, forex and more, forex aud, forex audusd, forex audusd short, forex buying, forex eurgbp, forex eurjpy, forex eurusd, forex exchange, forex gbpeur, forex gbpusd, forex idea, forex market, forex market overview, forex markets, forex saxo bank, forex selling, forex strategy, forex swiss, forex trade idea, forex trade ideas, forex trading, forex trading 2014, forex trading 2015, forex usdjpy, forextrading, formación, forward guidance, fv, fx, fx markets, gb, gbg, gbgb, gbgbgb, gbp, gbp eur, gbp falling, gbp trading, gbp trading 2014, gbp trading 2015, gbp usd, gbp weakening, gbpchf, gbpeur, gbpeur 2014, gbpjpy, gbpusd, gbpusd 2014, gbpusd five year high, gbpusd labour day, gbpusd record high, gbpusd trade idea, ggbb, saxo tv, tradingfloor.com

Alan Collins has three main reasons why he believes there are lower levels yet to be seen in EURGBP.

1. Last week’s upside was, for the 2nd week in a row, modest and stalled at the 100 day moving average.
2. That was followed by a renewal of selling this week that, with Monday’s strong decline, broke through the trend defining 13 day moving average.
3. Yesterday's rally attempt stalled, and reversed short of Monday’s Marabuzo line with prices now targeting the bottom end of an increasingly negative Keltner channel.


Targets: 0.7007, 0.6986 and 0.6962


Stop: 0.7074


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