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20 Apr 2015
EUR/GBP sideways consolidation might continue – KBC
FXStreet (Barcelona) - The KBC Bank Research Team, anticipates EUR/GBP to maintain its sideways trade between the 0.7150-0.7400 range.
Key Quotes
“Of late EUR/GBP was captured in a sideways consolidation range in the 0.7150/0.7400 area. The negative impact of the election uncertainty on sterling eased of late. The EUR/GBP shifted into a wait-and-see modus. For now, we see no trigger to break this stalemate. The uncertainty on the elections will probably prevent a sustained rebound of sterling, even in case of decent UK eco data. We see strong support in the mid 0.71/0.7150 area short-term.”
Key Quotes
“Of late EUR/GBP was captured in a sideways consolidation range in the 0.7150/0.7400 area. The negative impact of the election uncertainty on sterling eased of late. The EUR/GBP shifted into a wait-and-see modus. For now, we see no trigger to break this stalemate. The uncertainty on the elections will probably prevent a sustained rebound of sterling, even in case of decent UK eco data. We see strong support in the mid 0.71/0.7150 area short-term.”