EUR/GBP: Bulls look to test 0.9170 – Commerzbank
Karen Jones, Head of FICC Technical Analysis, offers the technical view for trading EUR/GBP in the day ahead.
“EUR/GBP has finally overcome its recent highs at .8941/46 and accelerated higher. It has baulked just ahead of the .9101 August high so far.
While we would allow for this to hold the initial test, the move looks directional. Above here would target the top of the 2016-2018 channel at .9172.
Risks are on the topside and the market stays bid near term while above the .8941 support.
Below .8941 lies the 200 day ma at .8837.”