FXStreet (Edinburgh) – Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the cross could have topped at 0.7492.
Key Quotes
“EUR/GBP last week saw emphatic rejection from .7492”.
“The three month support line has now been eroded and failure here adds weight to the idea that the market has topped”.
“Ideally we would like to see a close below the 55 and 200 day ma at .7287/62 and the September low at .7198 to refocus attention on the downside to the .6937 July low (favoured)”.
(Market News Provided by FXstreet)