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FxWirePro: EUR/GBP hits new monthly low of 0.7655, IG Survation poll and ECB Draghi weigh

  • IG Survation poll shows 45 pct of Britons would vote to remain in EU with 44% supporting the 'Leave' camp.
     
  • ECB Draghi on the wires, says EZ inflation dynamics remain rather subdued, adds “further stimulus is in the pipeline.”
     
  • EUR/GBP extends downside, slips to session lows near 0.7655, downside now looks vulnerable. 
     
  • Decisive break below 78.6% Fib at 0.7656 to see test of 200-DMA at 0.7565.
     
  • Our previous call (http://www.econotimes.com/FxWirePro-EUR-GBP-halts-3-day-losing-streak-edges-above-077-handle-224354) has achieved TP1 @ 0.7660.
     
  • Market sentiment could be volatile in the lead up to the vote and recent moves on currency markets remain vulnerable to swings/reversals.

Recommendation: Book partial profits, stay short, break below 0.7655 could drag the pair lower.
 

  • Market Data
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