Forex Flash: EUR/GBP unchanged but capable of another upside test – Commerzbank
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank has taken a look at EURGBP from a technical perspective.
Looking at the pair, Jones notes that it is largely unchanged and the market looks capable of another test of the 0.8148/65 key resistance level. These represent the June high, the October high and the 55 week MA. She sees this as key resistance on the chart and it also represents a medium term break up point. Jones is currently short at 0.8130 and looking to add to her position at 0.8145 with a stop at 0.8170 and a target of 0.8025.
Looking at the pair, Jones notes that it is largely unchanged and the market looks capable of another test of the 0.8148/65 key resistance level. These represent the June high, the October high and the 55 week MA. She sees this as key resistance on the chart and it also represents a medium term break up point. Jones is currently short at 0.8130 and looking to add to her position at 0.8145 with a stop at 0.8170 and a target of 0.8025.
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