EUR/GBP: Market stays bid while above .8954/41 – Commerzbank

Karen Jones, analyst at Commerzbank, suggests that upside bias is maintained for EUR/GBP cross as long as it is holding over its near term up trend at .8954 and this support is reinforced by the .8941 October high.

Key Quotes

“The market is struggling to clear the .9101 August high. Above .9101 would target the top of the 2016-2019 channel at .9165. Further consolidation looks likely very near term. Below .8900 lies the 200 day ma at .8856.”

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