EURGBP, Monthly
The combination of positive Euro unemployment data and a downward revision in UK Q3 GDP growth has been supporting the EURGBP price in recent days.
Looking for medium term direction, the monthly chart indicates that the EURGBP may be set to advance further since it now trades above the multi-year downward trend line.
My medium term conclusion is for price targets at 0.7700 (October 2008 lows), and 0.7860 as an extended price target.
Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.
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