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    EUR/GBP: mini-down-trend expected to extend


    The pair is in a concerted mini-down-trend after breaking below a key multi-touch level of support.

    The move down is taking place within a broader consolidation range with a ceiling at 0.74 and floor at 0.70.

    Currently the pair is pausing, however, and correcting up in what is probably an a-b-c pattern, which is currently unfolding leg C. This could eventually reach 0.7070.

    After leg C has completed, however, the mini-down-trend will probably resume and eventually reach the floor 0.7000.
    EURGBP15

       
    The pair is in a concerted mini-down-trend after breaking below a key multi-touch level of support.

    The move down is taking place within a broader consolidation range with a ceiling at 0.74 and floor at 0.70.

    Currently the pair is pausing, however, and correcting up in what is probably an a-b-c pattern, which is currently unfolding leg C. This could eventually reach 0.7070.

    After leg C has completed, however, the mini-down-trend will probably resume and eventually reach the floor 0.7000.
    EURGBP15


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