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FxWirePro Call Review: EUR/GBP to face sellers around 0.905 area

Back in January this year, we suggested in an article named, “FxWirePro: Buy euro against pound targeting 0.775”, available at https://www.econotimes.com/FxWirePro-Buy-euro-against-pound-targeting-0775-1110275 that the euro looks wobbly against the pound and we urged our readers to go short the euro against the pound targeting 0.775 area.

While we remain bearish on pound against the dollar over the longer horizon, we expect the dovish stance of the European Central Bank (ECB) to weigh on the euro, along with its domestic political trouble, the sign of which is the outcome of the Italian election, where Euro-skeptic political parties won majority of the votes.

However, our recent calculations suggest, while the call remains active, it is more likely that the euro would rise against the pound in the near term until the sellers emerge around 0.905 area.

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