Although the British pound has rebounded in tandem with euro, break of resistance at 1.6747 (last week’s high) is needed to confirm recent upmove has resumed and extend gain to 1.6790/00 but near term overbought condition should limit upside and reckon 1.6866 (100% projection of 1.6166-1.6600 measuring from 1.6432) would remain intact.
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