Friday, July 8, 2011

JPMorgan Recommends Buying EUR/GBP on the Dips

Currency strategists at JPMorgan keep advising investors to buy the single currency versus the British pound on the dips because of the economic differences between the UK and core euro zone nations.

According to the bank, the pair EUR/GBP will find support at 0.8905 and then return up to the levels above 0.9020. The specialists think that that euro will ultimately break above 2011 maximum of 0.9080 set on July 1.

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Live EUR/GBP Interactive Chart