SEB: EUR/GBP sees a bottom – eFXnews

FXStreet (Barcelona) – The Technical Strategy Team at SEB, believes that EUR/GBP might have seen a bottom after yesterdays below 0.70 dip, and some upside attempts might be seen, as noted by eFXnews.

Key Quotes

“There’s clearly a risk after yesterday’s price action that there’s a prematurely ended decline (following the bear triangle exit). As pointed out yesterday the minimum target for the move, a move below 0.7015, has been fulfilled (even though the ideal target is found a lot lower) so with a bullish key day reversal yesterday a bottom might have been put in place (a bullish MACD divergence will also enhance upside attempts).”

This forecast has been provided under specific arrangement with eFXnews.

The Technical Strategy Team at SEB, believes that EUR/GBP might have seen a bottom after yesterdays below 0.70 dip, and some upside attempts might be seen, as noted by eFXnews.

(Market News Provided by FXstreet)