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Valtteri Ahti, Chief Strategist at Danske Bank suggested risks for the European cross remain tilted to the upside.

Key Quotes

EUR/GBP broke above the 1 October high at 0.8920 yesterday. We still see risks mainly skewed to the upside near term”.

“The cross was rejected at the 31 August low at 0.8938, which is the key technical resistance level to watch out for now. A break above this level could potentially open up for a test of the 0.90 level from a technical point of view”.