Back
19 Mar 2015
EUR/GBP could visit 0.7350 – Commerzbank
FXStreet (Edinburgh) - The European cross could attempt a test of the mid-0.7300s, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“<a href="http://www.fxstreet.com/technical-studies/currencies/eurgbp/">EUR/GBP’s correction higher is gaining traction, the 2 month downtrend has been eroded and this points to a deeper corrective move near term”.
“We would allow for a move to .7343/50, the 38.2% retracement and then the .7445/50% retracement where we would expect to see the market start to falter”.
“Dips lower are indicated to terminate circa 0.7190/.7210 and this guards the .7020/00 zone”.
Key Quotes
“<a href="http://www.fxstreet.com/technical-studies/currencies/eurgbp/">EUR/GBP’s correction higher is gaining traction, the 2 month downtrend has been eroded and this points to a deeper corrective move near term”.
“We would allow for a move to .7343/50, the 38.2% retracement and then the .7445/50% retracement where we would expect to see the market start to falter”.
“Dips lower are indicated to terminate circa 0.7190/.7210 and this guards the .7020/00 zone”.