FXStreet (Edinburgh) – In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the focus of attention in the cross has shifted to the 0.7555/75 band.
Key Quotes
“EUR/GBP is bid and about to encounter major resistance at .7555/75”.
“It is undecided if this is a longer term base or a continuation pattern – one is bullish and one bearish. We favour a continuation pattern (bearish) as we have a number of critical resistances at .7555/75”.
“Only a weekly close above .7575 would encourage us to adopt an outright bullish outlook. For now we will look for failure at .7555/75”.
(Market News Provided by FXstreet)