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EUR/GBP – Short-term correction higher before a return to weakness - MIG Bank
EUR/GBP met strong resistance in recent trade at 0.8169. However the follow through has been limited with potential now for a higher low at 0.8012 (12/06/2012 low). • This price action warns that the fall from 0.8506 is now exhausted warning of a short-term corrective phase higher, back towards 0.8200. • However, the larger trend is still deemed to be negative so we will look to re-sell close to 0.8200.
