26 Mar 2015
EUR/GBP: Headwinds below the 0.74 handle
FXStreet (Guatemala) - EUR/GBP is currently trading 0.7338 with a high of 0.7384 and a low of 0.7334.
EUR/GBP has started to move lower with pressure in the while the EUR/USD is giving up the 1.10 psychological handle at the 1.1050 cap. EUR/GBP has started to falter ahead of the fourth month resistance line at 0.7381 and failed here which puts the cross back into bearish mode.
Karen Jones, chief analyst at Commerzbank explained that pips lower are indicated to terminate along the two week support line at 0.7248 ahead of the March 19 low at 0.7272. "Should a daily chart close above the 0.7408 January low be made, we would have to allow for further upside towards the 0.7500 region to be seen."
EUR/GBP has started to move lower with pressure in the while the EUR/USD is giving up the 1.10 psychological handle at the 1.1050 cap. EUR/GBP has started to falter ahead of the fourth month resistance line at 0.7381 and failed here which puts the cross back into bearish mode.
Karen Jones, chief analyst at Commerzbank explained that pips lower are indicated to terminate along the two week support line at 0.7248 ahead of the March 19 low at 0.7272. "Should a daily chart close above the 0.7408 January low be made, we would have to allow for further upside towards the 0.7500 region to be seen."