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EUR/GBP: Upward bias - Commerzbank

Karen Jones, analyst at Commerzbank, suggests that EUR/GBP’s upside bias is maintained as the market held above the .8941 October high on a closing basis but it does appear to have lost its upside impetus.

Key Quotes

“The recent move higher does look directional, although it has failed on its initial attempt at the .9101 August high. Above .9101 would target the top of the 2016-2018 channel at .9166. Below .8900 lies the 200 day ma at .8853.”

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

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