always draw trendlines
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Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
EUR/USD: Shift from bearish to neutral: In a 1.0995/1.1200 range. Time has run out for our bearish view and we are shifting to a neutral stance from here. We expect to see further sideway trading, likely between 1.0995 and 1.1200 even though the near-term bias is for a stronger rebound. However, at this stage, a move above 1.1200 seems unlikely GBP/USD: Neutral: Recovery could extend higher to 1.3535. We shifted to a neutral stance on Wednesday and were of the view that GBP is in a corrective recovery which has room to extend higher to 1.3535. The anticipated up-move has been more rapid and impulsive than expected ... (full story)