Next target for EURGBP: 1.50-1.53

Having moved above 1.40 the next target for EURGBP is 1.50-1.53, according to Riccardo Ronco at Aviate Global.

Previously, 1.30 represented a significant moment for sterling as this meant the breaking of the 14 year downward trendline. The latest target is based on the significant congestion period seen in EURGBP from 2004-2007. Meanwhile, the MACD suggest that the current uptrend will remain in place for the time being.

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