EUR/GBP failure expected at 0.8162/0.8200 – Commerzbank

In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the upside in the cross could struggle in the 0.8162/0.8200 band.

Key Quotes

“EUR/GBP has sold off as expected, the market recently reached target, it has a 13 count on the daily chart, complex divergence of the daily RSI and directly overhead lies the 2008-2016 resistance line, which is located just above here at .8162/0.8200 – we look for failure”.