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Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
EUR/USD: Bearish: Diminished odds for further weakness. The strong rebound yesterday has diminished the odds for further EUR weakness. However, confirmation of a shortterm low is only upon a break back above 1.1230. This appears to be a likely scenario unless EUR can move and stay below the recent low of 1.1125/30 within these 1 to 2 days. GBP/USD: Bullish: Anticipating a break above 1.4770. We shifted to a bullish stance yesterday and there is no change to the view. The down-move from the high of 1.4738 is viewed as a short-term correction and as long as the 1.4550 stop-loss is intact, we continue to anticipate a ... (full story)