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EUR/GBP still bearish below 0.7481 – Commerzbank

FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the European cross keeps its bearish perspective while below 0.7481.

Key Quotes

EUR/GBP is struggling to stabilise following its sell off last Wednesday”.

“The Elliott wave count is indicating scope for a .7130/75 rally ahead of another leg lower”.

“Above here initial resistance lies at .7196/98, the recent high, and major resistance continues to be seen at .7481 (this is the location of the 2013-2015 downtrend). We will maintain our bearish view while capped here”.

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