EUR/GBP has charted a key day reversal as the pair has held the June low at 0.8864. EUR/GBP trades around 0.8925 on Friday while the resistance line is sen at 0.9039, Commerzbank’s Karen Jones briefs.
Key quotes
“EUR/GBP has failed to break below 0.8864, the 9 June low, and has charted a key day reversal – this implies a loss of downside momentum and scope to recover some of its recent losses near-term.”
“Key resistance is the 0.9039 resistance line and this guards the 0.9150/78 recent highs.”
“Below 0.8864 will introduce potential to reach the 200-day ma at 0.8781.”
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