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Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
EUR/USD: Neutral: In a 1.1120/1.1290 range. EUR traded in a range of less than 50 pips last Friday, between 1.1191 and 1.1240. The outlook is still clearly neutral and we continue to expect this pair to trade sideways within a 1.1120/1.1290 range for now. GBP/USD: Bearish: Extension likely limited to 1.2865. GBP staged a rapid and abrupt turnaround last Friday and dropped below the revised target of 1.2930 (low of 1.2915). While the outlook is still viewed as bearish, any further extension is likely limited to the next major support at 1.2865 (low in August). That said, the current bearish phase is intact until ... (full story)