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1 Apr 2015
EUR/GBP downtrend to stay intact – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team, believes that EUR/GBP downtrend may last for a while as technicals show no signs of any reversal yet.
Key Quotes
“Since 2013 the GBP was able to appreciate until the pair reached the resistance line at 0.8034 where a sideward movement begun.”
“During the last months we saw a sharp decline of the EUR versus the GBP. Especially over the course of the last couple months the EUR expericend a sharp decline and it remains to be seen whether the EUR will be able to rebound.”
“According to the indicators this downward movement may last for a while since there are no clear signs for a significant trend reversal and the fundamentals of the EUR are not very promising at the moment.”
Key Quotes
“Since 2013 the GBP was able to appreciate until the pair reached the resistance line at 0.8034 where a sideward movement begun.”
“During the last months we saw a sharp decline of the EUR versus the GBP. Especially over the course of the last couple months the EUR expericend a sharp decline and it remains to be seen whether the EUR will be able to rebound.”
“According to the indicators this downward movement may last for a while since there are no clear signs for a significant trend reversal and the fundamentals of the EUR are not very promising at the moment.”