EUR/GBP: Remains bid above 0.8800 – Commerzbank

According to Karen Jones, Analyst at Commerzbank, EUR/GBP is poised to challenge the recent highs of 0.8934/41 as the cross has continued to recover.

Key Quotes

“Above .8941 will put the July peak at .8960 back in the frame, followed by the early August and September highs at .9031/54. However given that we are currently pretty much mid-range – we have no strong bias.”

“The market stays bid near term while above the .8810/00 support. Slips should find support between the July low at .8799 and the November 12 high at .8774. Further support sits at the October trough at .8723.”