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17 Jul 2015
EUR/GBP further downside likely – TDS
FXStreet (Edinburgh) - Strategists at TD Securities expect the cross to grind lower towards the mid-0.60s in the next months.
Key Quotes
“On a medium term perspective, we think this cross has further room to run to the downside. Indeed, we think are looking for a move lower into the mid-60s in coming weeks”.
“On a more tactical horizon, however, we are growing a bit more cautious. We think the current downward cycle could extend a bit more, perhaps as low as 0.6920, but the risk of a (temporary) consolidation is rising”.
“We think any recovery rally should be sold, however, and think any bounce toward the 0.7050/70 region offers an attractive entry point for a sharper and more sustained move lower”.
Key Quotes
“On a medium term perspective, we think this cross has further room to run to the downside. Indeed, we think are looking for a move lower into the mid-60s in coming weeks”.
“On a more tactical horizon, however, we are growing a bit more cautious. We think the current downward cycle could extend a bit more, perhaps as low as 0.6920, but the risk of a (temporary) consolidation is rising”.
“We think any recovery rally should be sold, however, and think any bounce toward the 0.7050/70 region offers an attractive entry point for a sharper and more sustained move lower”.