4 Sep 2013
Flash: EUR/GBP, June Lows - Commerzbank
FXstreet.com (London) - Karen Jones, chief analyst at Commerzbank notes that the EUR/GBP has sold off to the 0.8470 June low.
Key Quotes:
“While it is possible that this will hold the initial test, we look for rallies to now remain capped by the .8526 previous 2012-2013 uptrend (this should now act as resistance)”.
“We look for intraday rallies to be capped by .8500/15 for another leg down to the 0.8399 2013 low and .8366 the 200 week ma”.
Key Quotes:
“While it is possible that this will hold the initial test, we look for rallies to now remain capped by the .8526 previous 2012-2013 uptrend (this should now act as resistance)”.
“We look for intraday rallies to be capped by .8500/15 for another leg down to the 0.8399 2013 low and .8366 the 200 week ma”.