Karen Jones, analyst at Commerzbank, notes that EUR/GBP continues to sit just below the .8610 resistance, a close above here is needed to confirm that the market has based and is likely to act as a trigger on the topside to .8781, the 200 day ma.
“For now we are relatively neutral. While capped by the .8610 resistance, support at .8453 remains exposed. This guards the .8239 recent low and together with the 55 quarter moving average at .8226 this represents key support.”
“Below .8226 remain the June and October 2012 highs as well as the April 2016 high and the January and February 2014 lows at .8167/18.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.