FXStreet (Edinburgh) – In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the upside in the European cross is expected to lose steam around 0.7555/75.
Key Quotes
“EUR/GBP we suspect is not a base pattern but may in fact be a continuation pattern we have a number of critical resistances at .7555/75 and yesterdays price action is leaning more heavily to this being a continuation pattern rather than a base”.
“Only a close above .7575 would encourage us to adopt an outright bullish outlook. For now we will look for failure at .7555/75”.
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