FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, does not discard bullish attempts while above0.7942.



Key Quotes



EUR/GBP has eroded the .8001 resistance line and in doing so has muddied our outlook”.



“Key short term support is the uptrend at .7942 and the 20 day ma at .7942”.



“While above here we cannot rule out further upside attempts, although the Elliott wave count is still suggesting failure circa the .8033 June high, but there is scope for the .8075/38.2% retracement of the move down from March”.



“Support at .7942 guards the .7873 recent low”.



Related Forex Analysis
  1. Forex News

    EUR/GBP drops to 2-week lows near 0.6970

  2. Forex News

    EUR/GBP weaker below 0.7000

  3. Forex News

    EUR/GBP Technical Analysis: Support Sub-0.70 Under Fire

  4. Forex News

    EUR/GBP lined up for a new delivery tack from BoE

  5. Forex News

    EUR/GBP: 55 DMA at 0.7131 in bulls sights - CB

You May Also Like

COMPANIES IN THIS ARTICLE
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!