EUR/GBP continues to recover - Commerzbank

Karen Jones, analyst at Commerzbank, points out that the EUR/GBP continues to recover ahead of the .8941 October high and looks to have already resumed its up move.

Key Quotes

“The recent move higher does look directional and we would expect to see the market challenge the .9101 August high. Above .9101 would target the top of the 2016-2018 channel at .9172. Below .8941 lies the 200 day ma at .8843.”

“Only unexpected failure at .8810 the end of November low would target the .8655 November low.”