EUR/GBP: Bulls look to test 0.9170 – Commerzbank

Dhwani Mehta FXStreet

Karen Jones, Head of FICC Technical Analysis, offers the technical view for trading EUR/GBP in the day ahead.

Key Quotes:

“EUR/GBP has finally overcome its recent highs at .8941/46 and accelerated higher. It has baulked just ahead of the .9101 August high so far.

While we would allow for this to hold the initial test, the move looks directional. Above here would target the top of the 2016-2018 channel at .9172.

Risks are on the topside and the market stays bid near term while above the .8941 support.
Below .8941 lies the 200 day ma at .8837.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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