Karen Jones, Analyst at Commerzbank, notes that the EUR/GBP saw only a brief erosion of the 55 and 200 day ma at .8834, but recovered and suggests that while it holds over .8800, the market will remain capable of retesting the topside. Key Quotes “We look for a retest of the .8934/41 recent highs. Above .8941 will put the July peak at .8960 back in the frame, followed by the early August and September highs at .9031/54. However given that we are currently pretty much mid-range – we have no strong bias. Slips should find support between the July low at .8799 and the November 12 high at .8774. Further support sits at the October trough at .8723.” “Only unexpected failure at the .8655 current November low on a daily chart closing basis would probably trigger a swift drop to the April low at .8620. Below it lies the .8602 May 24 low.” 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 USD/CAD Technical Analysis: Bears await a follow-through selling below 100-hour SMA FX Street 4 years Karen Jones, Analyst at Commerzbank, notes that the EUR/GBP saw only a brief erosion of the 55 and 200 day ma at .8834, but recovered and suggests that while it holds over .8800, the market will remain capable of retesting the topside. Key Quotes "We look for a retest of the .8934/41 recent highs. Above .8941 will put the July peak at .8960 back in the frame, followed by the early August and September highs at .9031/54. However given that we are currently pretty much mid-range - we have no strong bias. Slips should find support between the July 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.
