EUR/GBP: Scope for the 0.9803 2008 high – Commerzbank
EUR/GBP charted a high of 0.9501 yesterday and analysts at Commerzbank note the presence of a 13 count. These are warning signs for the up move.
“We would allow for some near term consolidation/corrective set back.”
“Dips lower should find some support offered by the 0.9022 October high.”
“Currently the Elliott wave count on the daily chart is suggesting that we allow for a corrective set back to 0.8850.”
“Above 0.9501 all we have is the 0.9803 2008 high.”