18 Feb 2016
EUR/GBP supported by 0.7653 – Commerzbank
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the European cross remains supported by the trend line at 0.7653.
Key Quotes
“EUR/GBP remains under pinned by trendline support at .7653 and we look for a re-test of the recent high of .7896”.
“We continue to target for .8030/50, this is the measurement higher from the base .7492-.6937 it is also a Fibonacci retracement and we would expect to see initial failure in this vicinity”.
Key Quotes
“EUR/GBP remains under pinned by trendline support at .7653 and we look for a re-test of the recent high of .7896”.
“We continue to target for .8030/50, this is the measurement higher from the base .7492-.6937 it is also a Fibonacci retracement and we would expect to see initial failure in this vicinity”.