15 Apr 2014
EUR/GBP bearish towards 0.8210 – Commerzbank
FXStreet (Edinburgh) - The current rebound would lose traction above the 0.8313 mark, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank, allowing a pullback to 0.8210.
Key Quotes
“EUR/GBP saw a rebound as expected on Friday, ideally this will terminate circa .8313 the 3rd April high”.
“Our target remains .8210 en route to major support at .8160/59. Intraday Elliott wave counts are more positive and for now we will exit shorts”.
“Above .8315/30 would be required to alleviate downside pressure and signal a retest of the .8390/.8400 recent highs”.
Key Quotes
“EUR/GBP saw a rebound as expected on Friday, ideally this will terminate circa .8313 the 3rd April high”.
“Our target remains .8210 en route to major support at .8160/59. Intraday Elliott wave counts are more positive and for now we will exit shorts”.
“Above .8315/30 would be required to alleviate downside pressure and signal a retest of the .8390/.8400 recent highs”.