EUR/GBP could test 0.9034 in the longer term – Commerzbank

Pablo Piovano FXStreet

The European cross could attempt a visit to the 0.9030 area in the longer run, suggested Axel Rudolph, Senior Analyst at Danske Bank.

Key Quotes

“EUR/GBP formed a minor top at .8969 before slipping to the 55 day moving average at .8846. Further support can be seen along the three month uptrend line at .8816”.

“Slightly longer term, we remain unable to rule out a recovery to the .9034 October 2017 high, though”.

“Good support lies at .8771/.8800. Below here would re-target the December and January lows at .8689/87”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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