EUR/GBP: Scope for a move to 0.9150 – Commerzbank

The door seems open for EUR/GBP to advance to the mid-0.9100s according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.

Key Quotes

“EUR/GBP has eroded the 2 month down channel and we look for gains to .9150, the October 20 high. There is scope for the .9308 2017 high and .9323 to be reached longer term. This is the location of the 78.6% Fibonacci retracement.”

“Key support remains .8865/64, the June and September lows. Initial support is the .8929 December 1st low.”