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In the view of the analysts at Lloyds Bank, the recent bounce in the EUR/USD pair remains corrective in nature and the overall bias still remains to the downside.

Key Quotes:

“Rebounds remain corrective in nature.

Holding under 1.1190 resistance.

The bias remains for the market to set a new low below 1.1115.

Current “falling wedge” “¦ since last September.

New lows have been followed by a decent rebound.

Overall, while prices are within our long-term 1.1200-1.0800 basing region, we still have little evidence of a base developing.”