EUR/GBP is seeing a period of stabilisation ahead of the 55-day ma at 0.9038 and trades at 0.9140, posting mild gains of 0.1% on the day. Karen Jones, Team Head FICC Technical Analysis Research at Commerzank, expects the pair to push higher again towards the 2017 high at 0.9308. Key quotes “EUR/GBP’s correction lower went a little further than we had hoped but remains within the realms of a correction only. We view this as the market pausing ahead of further gains to the 0.9308 2017 high and 0.9323, the 78.6% Fibonacci retracement. This is formidable resistance and it is expected to hold the initial test.” “We suspect that the market is consolidating ahead of another leg higher. Near-term dips will find initial support at 0.9072, the mid-August high and are likely to remain contained by the 55-day ma at 0.9038.” 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/JPY to extend lower towards 104.20 – OCBC FX Street 1 year EUR/GBP is seeing a period of stabilisation ahead of the 55-day ma at 0.9038 and trades at 0.9140, posting mild gains of 0.1% on the day. Karen Jones, Team Head FICC Technical Analysis Research at Commerzank, expects the pair to push higher again towards the 2017 high at 0.9308. Key quotes “EUR/GBP’s correction lower went a little further than we had hoped but remains within the realms of a correction only. We view this as the market pausing ahead of further gains to the 0.9308 2017 high and 0.9323, the 78.6% Fibonacci retracement. This is formidable resistance and it is… 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.
