EUR/GBP now supported by 0.7942 – Commerzbank

By FXstreet.com | August 13, 2014 AAA

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”.



comments powered by Disqus
Related Forex Analysis
  1. SEB: EUR/USD sellers just above resistance - eFXnews
    Forex News

    SEB: EUR/USD sellers just above resistance - eFXnews

  2. USD/JPY shows another attempt to reach recent highs
    Forex News

    USD/JPY shows another attempt to reach recent highs

  3. EUR/GBP testing the range bottom before the UK data
    Forex News

    EUR/GBP testing the range bottom before the UK data

  4. What’s the sentiment around the EUR/USD today? – OCBC Bank and Scotiabank
    Forex News

    What’s the sentiment around the EUR/USD today? – OCBC Bank and Scotiabank

  5. GBP/USD attacks 1.63 area again
    Forex News

    GBP/USD attacks 1.63 area again

Trading Center