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EUR/GBP could re-test 0.6935 – BBH

FXStreet (Edinburgh) - The research team at BBH sees the European cross could re-visit lows around 0.6935 in the medium term.

Key Quotes

“On October 13, the euro was at eight-month highs near GBP0.7500”.

“Last week it finished below GBP0.7200. It spent the entire session before the weekend below its lower Bollinger Band (~GBP0.7240) for the first time since June 2014”.

“Indeed, it neared three standard deviations from its 20-day moving average (~GBP0.7175). A move back toward the Bollinger Band will likely be sold”.

“The GBP0.7150 area corresponds to a 61.8% retracement of the euro’s gains since the summer, and a break may encourage the anticipation of a return to those lows set near GBP0.6935”.

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