Back
13 Mar 2015
EUR/GBP may correct higher– KBC
FXStreet (Barcelona) - With EUR decline slowing, The KBC Bank Research Team expects that EUR/GBP might see a temporary correction.
Key Quotes
“Recent moves in EUR/GBP and cable will in the first place be driven by global factors, but yesterday there were signs of a further loss of momentum of sterling, too.”
“We maintain a euro negative bias longer term, but the decline is clearly slowing. Some consolidation after the recent steep decline might be on the cards.”
“A sustained break below 0.7000 might not be that easy short-term.”
“Short-term players can therefore consider partial profit taking on EUR/GBP shorts to protect against a temporary countermove.”
Key Quotes
“Recent moves in EUR/GBP and cable will in the first place be driven by global factors, but yesterday there were signs of a further loss of momentum of sterling, too.”
“We maintain a euro negative bias longer term, but the decline is clearly slowing. Some consolidation after the recent steep decline might be on the cards.”
“A sustained break below 0.7000 might not be that easy short-term.”
“Short-term players can therefore consider partial profit taking on EUR/GBP shorts to protect against a temporary countermove.”