FXStreet (Edinburgh) – According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the European cross keeps its bearish perspective while below 0.7481.
Key Quotes
“EUR/GBP is struggling to stabilise following its sell off last Wednesday”.
“The Elliott wave count is indicating scope for a .7130/75 rally ahead of another leg lower”.
“Above here initial resistance lies at .7196/98, the recent high, and major resistance continues to be seen at .7481 (this is the location of the 2013-2015 downtrend). We will maintain our bearish view while capped here”.
(Market News Provided by FXstreet)