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In opinion of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, EUR/GBP could face further pullbacks on a breakdown of 0.8835/25.

Key Quotes

EUR/GBP has eroded the 200 week ma at .8835 (but NOT on a closing basis). Rallies will need to regain .8926 the 18th January high at the very minimum in order to alleviate immediate downside pressure. A CLOSE below .8835/25 would imply another leg lower to the .8671 April low.”