EUR/GBP Weekly Outlook 01/06/14
The bounced last week but failed to post a close above 0.8150. Resistance at this area and a failing 20 day SMA continue to offer resistance.
If a break were to occur at this level we would chance our stance on the pair to 'long'. However risks remain to the downside and with major event risk on both the EURO and Pound this week we prefer to stand aside for now.
If a break were to occur at this level we would chance our stance on the pair to 'long'. However risks remain to the downside and with major event risk on both the EURO and Pound this week we prefer to stand aside for now.
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