Flash: EUR/GBP has eroded June low – Commerzbank

FXstreet.com (London) - Karen Jones, chief analysts at Commerzbank said that the EUR/GBP has eroded and closed below the 0.8470 June low and 2090 day ma.

Key Quotes:

“… this is viewed as negative”.

“Intraday rallies should now remain capped by the .8528 previous 2012-2013 uptrend (this should now act as resistance) and will find initial resistance at .8480/.8500 for another leg down to the 0.8399 2013 low and .8366 the 200 week ma”.