EUR/GBP is looking for a correction higher. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to close again above the 20-day moving average at 0.8605 to confirm the move. Key quotes “EUR/GBP has registered a triple divergence of the daily RSI, and we continue to suspect a correction higher is likely.” “A close above the 20-day ma at 0.8605 has been seen, and we would like to see another one to confirm. The intraday Elliott wave counts are more positive, and we favour a correction higher.” “Rallies would need to clear the recent high at 0.8732 to negate current downside pressure. Only above here would allow for scope for recovery to 0.8864/61 (lows seen in June, September and November), but that is expected to hold the topside.” 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 Bitcoin holders expect high volatility as roughly 100,000 BTC options contracts expire Friday FX Street 8 months EUR/GBP is looking for a correction higher. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to close again above the 20-day moving average at 0.8605 to confirm the move. Key quotes "EUR/GBP has registered a triple divergence of the daily RSI, and we continue to suspect a correction higher is likely." "A close above the 20-day ma at 0.8605 has been seen, and we would like to see another one to confirm. The intraday Elliott wave counts are more positive, and we favour a correction higher." "Rallies would need to clear the… Top 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.
