Forex Flash: EUR/GBP with short term correction ahead likely - Commerzbank

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FXstreet.com (Barcelona) - The upside was stalled just ahead of the top of the trend channel, 0.8355, "and we would expect this to hold the initial test of the topside", wrote analyst Karen Jones, adding that the 13 count on the daily chart is warning a likely short term correction, with dips expected to find interim support at 0.8221/0.8192 (previous January 2012 low and the 23.6% retracement of the move up from July) and key support being the base of the channel at 0.8091. Over the medium term, "base remains viable above 0.7950".



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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