EUR/GBP: Further recovery - Commerzbank

Sandeep Kanihama FXStreet Contributor

Karen Jones, analyst at Commerzbank, suggests that the EUR/GBP cross should see further recovery this week after last week, it managed to close above the 55 day ma.

Key Quotes

“We should see a move towards the recent high at .8723 and .8819 (200 day ma). The market is expected to struggle on rallies to .8819/23, and only above here allows for a move to the October .8941 high.”

“It is viewed as having based recently at the .8471 recent low. Below here (not favoured) would allow for a slide to the 200 week ma at .8419 (although this is less favoured).”

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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