In the opinion of Karen Jones, head of Commerzbank’s technical analysis research team, the EUR / GBP could face further setbacks on a break of 0.8835 / 25.
“EUR / GBP has eroded the 200-week moving average at 0.8835 (but NOT over the close). The rallies will need to regain 0.8926, the January 18 high, at the very least to ease the immediate downward pressure. A CLOSE below 0.8835 / 25 would imply another bearish momentum to the April low at 0.8671 “.
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