EUR/GBP: Market consolidating below the .9101 August high – Commerzbank

Sandeep Kanihama FXStreet Contributor

According to Karen Jones, analyst at Commerzbank, after failing the initial test of the .9101 August high so far for EUR/GBP cross, some near term consolidation may be in the store, but the move does looks directional and above here would target the top of the 2016- 2018 channel at .9172.

Key Quotes

“Risks are on the topside and the market stays bid near term while above the .8941 support. Below .8900 lies the 200 day ma at .8837.”

“Only unexpected failure at .8810 the end of November low would target the .8655 November low.”

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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