EUR/GBP: door open for a test of 0.7565? – Commerzbank

Karen Jones, Head of FICC Technical Analysis, hinted at the possibility of a visit to the 0.7565 area.

Key Quotes

“EUR/GBP has eroded its near term uptrend and sold off to the 23.6% retracement at 0.7702”.

“The risk is that we will see a deeper retracement to .7565, 38.2% retracement and potentially 0.7454, the 50% retracement”.

“The market increasingly looks to have topped here and we will for now neutralise our forecast”.