FXStreet (Edinburgh) - According to technical studies, the cross could re-visit the area of 0.8063/75, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.



Key Quotes



EUR/GBP’s break of its 20 day ma proved quite pivotal and the market shot higher on Friday. The rally has eroded the .7972 2014 downtrend”.



“Intraday Elliott wave counts have turned more positive and are suggesting a rebound to .8063/75”.



“Intraday dips are indicated to terminate circa .7850.The 20 day ma is likely to act as initial support on pullbacks now to .7930 and key support is the recent low at .7873”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/GBP Technical Analysis: Treading Water Near 0.70

  2. Forex News

    Standard and Poor’s Rating Downgrades EU Outlook Amidst Sustainability Fears

  3. Forex News

    EUR/GBP: a big week from the UK this week

  4. Forex News

    EUR/GBP off lows, near 0.7030

  5. Forex News

    EUR bearishness unchanged – TDS

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!