- Analytics
- News and Tools
- Market News
- EUR/GBP starts to break down from its range – Commerzbank
EUR/GBP starts to break down from its range – Commerzbank
FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, notes that EUR/GBP lost steam ahead of the 55-day ma at 0.9051 and expects a drop towards the 0.8931 July low.
“EUR/GBP has failed near-term at the 55-day ma at 0.9051 and is starting to break down from its range. Above the market lies the 0.9134 resistance line and this guards the recent high at 0.9178. We would allow for a slide to 0.8931 the July low.”
“A move above 0.9184 (Fibo) would trigger a rise to 0.9308 the 2017 high and 0.9323. This is the location of the 78.6% Fibonacci retracement. This is formidable resistance and is expected to hold the initial test.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
