"EURGBP almost reached our 0.80 target, suggesting there was a need for a turnaround.
The pair has now broken through the bottom end of the recent trend channel so we now focus on potential retracement targets.0.7567 is the 38.2% retracement level and also the bottom end of a consolidation area.
A move back into the channel at 0.7830 suggests that the uptrend is incomplete," argues Morgan Stanley.
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