17 Feb 2016
EUR/GBP could re-visit 0.7896 – Commerzbank
Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the possibility of another visit to the 0.7896 level.
Key Quotes
“EUR/GBP has eased back to and recovered just ahead of trendline support at .7642”.
“We should see 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 has eased back to and recovered just ahead of trendline support at .7642”.
“We should see 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”.