Analysts at Commerzbank recommend opening longs on the EUR/GBP based on technical analysis, as they have seen the rupture of the 6-month downtrend. 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.” “Below .8226 remain the June and October 2012 highs as well as the April 2016 high and the January and February 2014 lows at .8167/18.” 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 looks directionless near 1.1060 ahead of data FX Street 2 years Analysts at Commerzbank recommend opening longs on the EUR/GBP based on technical analysis, as they have seen the rupture of the 6-month downtrend. 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.” “Below .8226 remain the June and October 2012 highs as well as the April 2016 high and the January and… 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.
