EUR/GBP is showing signs of recovery and is trading above the 200-day ma at 0.8715, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, briefs.
Key quotes
“The EUR/GBP pair looks well placed to challenge 0.8864/65. A close above here will confirm a short term base targeting 0.9060. This potential base will remain valid while the market continues to trade above the April low at 0.8671.”
“Above resistance at 0.8864/65 sits the March 20 low at 0.8994.”
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