EUR/GBP still below 0.8033/36 – Commerzbank

By FXstreet.com | Updated August 25, 2014 AAA

FXStreet (Edinburgh) - Axel Rudolph, Senior Technical Analyst at Commerzbank, still sees the pair trading in sub-0.8033/36 levels.



Key Quotes



“EUR/GBP dropped back to the 55 day moving average and the immediate uptrend line at .7967. Failure there would push the .7935 August 13 low to the fore”.



“We still expect EUR/GBP to remain below the .8033/36 resistance zone, made up of the late June and current August highs”.



“A break above the .8033/36 area would introduce scope to challenge the .8074/82 38.2% Fibonacci retracement of the March-to-July decline and May low”.



“Such a rally should fail ahead of the .8136/59 50% retracement, February low and late May high at the very latest”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/GBP: Plenty of risk ahead in FOMC

  2. Forex News

    EUR/GBP going nowhere

  3. Forex News

    EUR/GBP Technical Analysis: Euro Rebound in the Cards?

  4. Forex News

    EUR/GBP up around 0.7160

  5. Forex News

    EUR/GBP dips to fresh lows near 0.7150

Trading Center