Forex Flash: Expect further EUR/GBP upside test – Commerzbank
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Barcelona) - EURGBP has rallied sharply through resistance at 0.8109/0.8114, the September high notes Karen Jones, Head of Technical Analysis Research at Commerzbank.
She believes that we are likely to see another test of the 0.8148/65 key resistances which represent the June high, the October high and the 0.8164 55 week MA. This is key resistance on the chart and also represents a medium term break up point. Jones is current flat on the pair but will attempt minor shorts at market price, adding to her position at 0.8145 and place a stop at 0.8170 with a target of 0.8025.
She believes that we are likely to see another test of the 0.8148/65 key resistances which represent the June high, the October high and the 0.8164 55 week MA. This is key resistance on the chart and also represents a medium term break up point. Jones is current flat on the pair but will attempt minor shorts at market price, adding to her position at 0.8145 and place a stop at 0.8170 with a target of 0.8025.
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