Forex Trading: EUR/GBP Reversal On Tap

RELATED QUOTES

SymbolPriceChange
EURGBP=X0.8805-0.0008

With the EURGBP quickly bouncing back to the 0.8100 figure, we’re looking to sell the short-term rebound in the exchange rate, and we anticipate to see a short-term reversal in the exchange rate as it remains capped around 0.8140-50, the 78.6% Fib from 2008 low to the 2009 high. As the euro-pound continues to carve out a broader top around the key figure, the deviation in the policy outlook for the euro-area and the U.K. continues to instill a bearish forecast for the pair, and we should see the exchange rate resume the downward trend from earlier this as the European Central Bank (ECB) shows a greater willingness to lower the benchmark interest rate further.

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    Market Data

    • Currencies
      Currencies
      NamePriceChange% Chg
      1.4294-0.0006-0.04%
      USDSGD=X
      1.5163+0.0009+0.06%
      EURSGD=X
      1.7221+0.0028+0.16%
      GBPSGD=X
      79.7330-0.029-0.04%
      SGDJPY=X
      5.4239+0.0037+0.07%
      SGDHKD=X
      3.1246+0.0023+0.07%
      SGDMYR=X
      9,381.2236+4.8096+0.05%
      SGDIDR=X
      4.8255+0.0025+0.05%
      SGDCNY=X
      1.0677-0.0005-0.05%
      AUDSGD=X
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      NamePriceChange% Chg
      1,204.50+4.70+0.39%
      GCG17.CMX
      16.86+0.03+0.21%
      SIH17.CMX
      87.04+0.81+0.94%
      ^XAU
      2.66-0.01-0.39%
      HGH17.CMX
      52.50-0.51-0.96%
      CLG17.NYM
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      TreasuryYield (%)Yield Change
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