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May 24, 2013
Flash: EUR/GBP said 0.8591 was on the card - Commerzbank
FXstreet.com (London) - EUR/GBP had advanced to the figure 0.8600 in London trade.
Commerzbank had expected this move and should there be a retest of this level with a daily close above above 0.8637 be made, their medium term forecast will change from neutral to bullish with the 0.8716 early February high being back on the map. Adding, only unexpected failure at the 0.8422 mid-May low will be bearish and target the 2013 support line at 0.8380 and the 2012-13 support line at 0.8336.
Commerzbank had expected this move and should there be a retest of this level with a daily close above above 0.8637 be made, their medium term forecast will change from neutral to bullish with the 0.8716 early February high being back on the map. Adding, only unexpected failure at the 0.8422 mid-May low will be bearish and target the 2013 support line at 0.8380 and the 2012-13 support line at 0.8336.