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EUR/GBP hits half yearly high at 0.75574

  • Intraday bias remains neutral for consolidation below 0.7554 temporary top.

  • Retreat to be contained above 0.7311 supports and bring another rally.

  • Break of 0.7492 levels indicates medium term trend reversal.

  • Further rise should be seen to 38.2% retracement of 0.8806 to 0.6935 at 0.7650.

  • From the fundamental point of view, today UK will release monetary policy which will be the key event for the further direction to the parity.

  • Initial support levels are seen at 0.7521, 0.7492 and 0.7437 levels.

  • To the top side resistance levels are seen at 0.7576, 0.7605 and 0.7660 levels.

 

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