29 Apr 2014
EUR/GBP potential for a visit to 0.8271/94 – Commerzbank
FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, there is the chance of a bull run to 0.8271/94.
Key Quotes
“EUR/GBP is seeing a small corrective rebound near term having recovered last week from just ahead of the .8192 February low.
“There is room for another small upside attempt into the .8271/94 band ahead of further weakness. The market has held the initial test of the .8192 end of February low, and these near term rallies are viewed as corrective only”.
“However while below .8315 we are overall still negative, and our target remains major support at .8160/59”.
Key Quotes
“EUR/GBP is seeing a small corrective rebound near term having recovered last week from just ahead of the .8192 February low.
“There is room for another small upside attempt into the .8271/94 band ahead of further weakness. The market has held the initial test of the .8192 end of February low, and these near term rallies are viewed as corrective only”.
“However while below .8315 we are overall still negative, and our target remains major support at .8160/59”.