EUR/GBP: Consolidates below its recent highs - Commerzbank

Sandeep Kanihama FXStreet Contributor

According to Karen Jones, analyst at Commerzbank, EUR/GBP is likely to consolidate further below its recent highs of 0.8941/46.

Key Quotes

“In case this resistance area were to be exceeded on a daily chart closing basis, we would look for gains to the early August and September highs at .9031/54 to unfold.”

“Risks are on the topside and the market stays bid near term while above the .8810/00 support. Slips should find support between the July low at .8799 and the November 12 high at .8774.”

“Further support sits at the October trough at .8723.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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