OctaFX | OctaFX Forex Broker
Open trading account

EUR/GBP finds initial support around 0.8790/83 – Commerzbank

The European cross could slip lower and find initial support in the 0.8790/83 band, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

EUR/GBP last week saw initial rejection from the .9034 12th October 2017 high, and currently the market is on the defensive and grinding lower. The market is capable of sliding towards the bottom of the range again. Dips lower should find initial support .8790/83 ahead of the major support band, namely the September low at .8746 and the 55 week ma at .8721”.

“Above .9034 would target .9093 then .9187. Immediate support is offered by the previous downtrend at .8870”.

“Below .8720 would target the .8530/78.6% retracement of the move seen this year. Near term rallies should find decent resistance at .8840/80 (38.2% and 50% retracements of last leg down”.

USD/JPY stays supported around 112 and 111.65 – Danske Bank

Senior Analyst at Danske Bank Morten Helt noted the pair faces initial contention around the 112 handle seconded by 111.65. Key Quotes “USD/JPY face
Read more Previous

GBP/USD still neutral near term – UOB

FX Strategists at UOB Group believe Cable should keep gravitating between 1.3100 and 1.3320 in the next weeks. Key Quotes 24-hour view: “The initial
Read more Next
Start livechat