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EUR/GBP likely to challenge the .9101 August high - Commerzbank

Karen Jones, analyst at Commerzbank, suggests that the EUR/GBP cross is expected to challenge the .9101 August high, after last week it eased back to the near term support line, today located at .8964.

Key Quotes

“Above .9101 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 .8964 uptrend and the .8941 support (October high). Below .8900 lies the 200 day ma at .8839.”

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