- Analytics
- News and Tools
- Market News
- EUR/GBP fails at the 0.8471 resistance, attention is on the 0.8239 2019 low – Commerzbank
EUR/GBP fails at the 0.8471 resistance, attention is on the 0.8239 2019 low – Commerzbank
EUR/GBP has failed at initial resistance and is under pressure. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to pungle towards the 0.8239 2019 low.
Bearish bias while below 55-day moving average at 0.8532
“EUR/GBP has tested and failed at key nearby resistance at 0.8471, which represents the April 2021 low and the May 2019. This is negative price action, and while we hold below the 55-DMA at 0.8532 we stay negative for now.”
“Attention is on the 0.8239 2019 low and the 200-month ma lies at 0.8159.”
“The near-term bounce is viewed as corrective for now. EUR/GBP will need to regain the 55-DMA at 0.8532 in order to alleviate downside pressure and to challenge the 0.8659/73 highs since May.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
