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26 Mar 2013
Forex Flash: EUR/USD tender as GBP/USD consolidates - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC bank notes that in teh current environment, EUR/USD may remain relatively tender with the pair already peeking below its 200D MA at 1.2882.
Further, he sees that the next stop is expected towards the 1.2724 neighborhood. Datawise he sees a slew of confidence indicators ahead this week. Shifting to GBP/USD, he notes that further consolidative behavior may persist given that Eurozone news have taken center stage for now, outweighing structural GBP negatives for now. He writes, “Greater certainty meanwhile may be expected from the EUR/GBP, with the cross remaining inherently bearish in the near term.”
Further, he sees that the next stop is expected towards the 1.2724 neighborhood. Datawise he sees a slew of confidence indicators ahead this week. Shifting to GBP/USD, he notes that further consolidative behavior may persist given that Eurozone news have taken center stage for now, outweighing structural GBP negatives for now. He writes, “Greater certainty meanwhile may be expected from the EUR/GBP, with the cross remaining inherently bearish in the near term.”