Euro May Fall Against Pound, Technical Chart Suggests, BNP Strategists Say

(Bloomberg) -- The euro will probably reverse gains
against the U.K. pound, according to a technical indicator, and
as traders reduce bets on its appreciation, currency strategists
at BNP Paribas SA said.

The currency used by the 13 euro-region nations faces
resistance versus the pound, where sell orders may be clustered
at 68.07 pence, then 68.17 pence and 68.25 pence, according to
charts traders use to predict price movements, said Hans Guenter
Redeker, head of currency strategy in London at BNP in a note to
clients.


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