Following the recent price action, the cross now shifted its attention to the area above the 0.8600 mark, noted Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. Key Quotes “EUR/GBP has eroded the 6 month downtrend at .8497. The 61.8% retracement at .8380 has recently held 3 times and we suspect that the market might be basing from a longer term perspective. Attention reverts to the .8606/10 nearby resistance. A close above .8610 is needed to alleviate downside pressure and re-target the .8769 200 day ma.’ “Failure at .8380 will target .8318/78.6% retracement and the .8239 December low. This, together with the 55 quarter moving average at .8226, represents key support.” 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 NZD/USD risks extra losses on a close below 0.6460 – UOB FX Street 2 years Following the recent price action, the cross now shifted its attention to the area above the 0.8600 mark, noted Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. Key Quotes “EUR/GBP has eroded the 6 month downtrend at .8497. The 61.8% retracement at .8380 has recently held 3 times and we suspect that the market might be basing from a longer term perspective. Attention reverts to the .8606/10 nearby resistance. A close above .8610 is needed to alleviate downside pressure and re-target the .8769 200 day ma.’ “Failure at .8380 will target .8318/78.6% retracement and the .8239 December low.… 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.
