EUR/GBP faces support at 0.8471/49 – Commerzbank

Pablo Piovano FXStreet

The 0.8471/49 band is seen holding the downside in EUR/GBP for the time being, comments Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“EUR/GBP is under pressure near term following last week’s failure just ahead of .8671, the July 2021 high. The market has reacted back to key support at .8505/00, the lows from mid-July, and these are exposed and failure here will target key support is .8471/49, the recent low and lows since 2019. We again look for these to hold the downside.”

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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