EUR/GBP: Further rangebound now favoured – Commerzbank
|Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, noted EUR/GBP now faces some consolidation in the very near term.
Key Quotes
“EUR/GBP continues to sit in 3 month lows. Note that it still has not CLOSED below .8503 and we may see some very near term consolidation. Attention is on the .8471 long term pivot. Failure at .8471/65 would target .8314/.8239 as well as the 200 month moving average at .8135.”
“Initial resistance is the 55-day ma at .8584 ahead of stronger resistance at .8673, the 25th May high.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.