EUR/GBP risks a drop to 0.7654 – Commerzbank

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the cross could re-visit the mid-0.7600s.

Key Quotes

“No change - EUR/GBP continues to probe the .7930/45 highs seen in February and March and the move higher is expected to struggle in this vicinity”.

“We view the currency pair as having topped at .8116 and look for further slippage to the .7654 area. It is where the March low can be seen”.