EUR/GBP: Markets struggling to clear the .9101 August high - Commerzbank

Sandeep Kanihama FXStreet Contributor

Karen Jones, analyst at Commerzbank, suggests that the EUR/GBP cross has held over its near term up trend at .8969 and this support is reinforced by the .8941 October high and while this holds on a closing basis we will assume an upside bias is maintained.

Key Quotes

“The market is struggling to clear the .9101 August high. Above .9101 would target the top of the 2016-2019 channel at .9165. Further consolidation looks likely very near term. Below .8900 lies the 200 day ma at .8860.”

“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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