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24 Mar 2016
EUR/GBP targets 0.8030/65 – Commerzbank
Axel Rudolph, Senior Technical Analyst at Commerzbank, believes the cross could attempt to clinch the 0.8030/65 band.
Key Quotes
“EUR/GBP is about to better its current March high at .7927 and the 200 week moving average at .7934. Above there will see the target .8030/65 engage, this is the measurement higher from the base .7492- .6937 and where the September high was made”.
“Immediate upside pressure will be maintained while above the four month uptrend line and 55 day ma at .7745/26. Below here will trigger losses to the 0.7565 38.2% retracement and the .7527 February low”.
Key Quotes
“EUR/GBP is about to better its current March high at .7927 and the 200 week moving average at .7934. Above there will see the target .8030/65 engage, this is the measurement higher from the base .7492- .6937 and where the September high was made”.
“Immediate upside pressure will be maintained while above the four month uptrend line and 55 day ma at .7745/26. Below here will trigger losses to the 0.7565 38.2% retracement and the .7527 February low”.