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12 Jun 2013
Flash: risks slowly shifting to downside - Commerzbank
FXstreet.com (London) - Research teams and technical analyses departments at Commerzbank had noted that the EUR/GBP had seen a feeble rally and had been continuing to hover at the 55 day ma at 0.8498.
EUR/GBP lower on positive UK economic data this morning
In the mean time, while the pair remained on the defensive, the pair have given way on upbeat UK drops in claimant numbers in the UK Labour market this morning.
EUR/GBP lower levels yet
They have suggested that any rallies would find minor resistance at 0.8550 ahead of the 0.85975 recent high and in meanwhile we should see this continue to hold the topside for a slide back to the 0.8422 mid-May low. They said a failure there will leave the market weighing on the downside further and target the 2012-13 support line at 0.8370.
EUR/GBP lower on positive UK economic data this morning
In the mean time, while the pair remained on the defensive, the pair have given way on upbeat UK drops in claimant numbers in the UK Labour market this morning.
EUR/GBP lower levels yet
They have suggested that any rallies would find minor resistance at 0.8550 ahead of the 0.85975 recent high and in meanwhile we should see this continue to hold the topside for a slide back to the 0.8422 mid-May low. They said a failure there will leave the market weighing on the downside further and target the 2012-13 support line at 0.8370.