EUR/GBP downtrend accelerated below 0.7150 – TDS

FXStreet (Edinburgh) - According to strategists at TD Securities, the cross could see its decline intensified if 0.7150 is breached.

Key Quotes

EURGBP has made a little more progress lower this week (we target 0.7000/25 in the next few weeks as a result of the early February bear flag breakdown)”.

“Price action suggests nothing other than weakness ahead. Trend momentum remains strongly bearish across a range of timeframes which should mean limited (mid/upper 0.72s) upside potential near-term”.

“We are a little concerned about the narrowing, descending range that seems to be developing, however, as this could mean the downturn is losing momentum”.

“Above 0.7280/85 eases near-term bear pressure. But below 0.7150 will mean an acceleration in the slide”.

Greek reforms need scrutiny – Euro group’s Chief Dijsselbloem

Speaking about a letter received on Friday from Greek Fin Min Varoufakis ahead of Euro group meetings in Brussels today, Euro group Chair Jeroen Dijsselbloem said that the list of reform proposals sent by Greece to euro zone finance ministers to secure liquidity is "helpful", but needs scrutiny by the country's creditors.
Leer más Previous

USD/CHF falls further to 0.9825

USD/CHF pared gains and inched closer to 0.98 handle as the greenback came under selling pressure on Monday as investors were taking profits from its impressive rally on Friday, spurred by stellar payrolls.
Leer más Next