EUR/GBP has seen emphatic failure at robust resistance at 0.8722/32. Karen Jones, Staff Head FICC Technical Evaluation Analysis at Commerzbank, e
EUR/GBP has seen emphatic failure at robust resistance at 0.8722/32. Karen Jones, Staff Head FICC Technical Evaluation Analysis at Commerzbank, expects the pair t o prolong its fall in the direction of the 0.8471/65 neighborhood.
Failure at 0.8471/65 to focus on 0.8314/0.8239
“EUR/GBP has once more failed on the 0.8722/32 robust resistance (highs from March). It’s probing the 0.8588 the mid-April low and we proceed to favour failure and a slide to 0.8533, the mid-March low. Under right here targets the March and Might 2019 lows at 0.8471/65.”
“Under 0.8465 we must enable for the 0.8314/0.8239 main assist zone to be reached (the December 2016, April 2017, December 2019 and February 2020 lows).”
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