Karen Jones, analyst at Commerzbank, explains that the EUR/GBP’s new low of .8471 was not been confirmed by the daily RSI and it should allow for another test of the accelerated downtrend at .8638. Key Quotes “While capped here downside risk remains for losses to the 200 week ma at .8390. It is on the defensive. Above the downtrend, rallies are likely to find initial resistance at .8722 (22nd February high) ahead of .8742, .8846 (55 and 200 day ma).” “The market is expected to struggle on rallies to the 200 day ma at .8849, and only above here allows for a move to the October .8941 high, which is expected to contain the topside.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD Technical Analysis: In 2-week highs around 1.1350. Targets the 55-day SMA at 1.1365 FX Street 4 years Karen Jones, analyst at Commerzbank, explains that the EUR/GBP's new low of .8471 was not been confirmed by the daily RSI and it should allow for another test of the accelerated downtrend at .8638. Key Quotes "While capped here downside risk remains for losses to the 200 week ma at .8390. It is on the defensive. Above the downtrend, rallies are likely to find initial resistance at .8722 (22nd February high) ahead of .8742, .8846 (55 and 200 day ma)." "The market is expected to struggle on rallies to the 200 day ma at .8849, and only above here allows… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
