EUR/GBP: the Pullback in the direction of 0,8555/25 – Commerzbank

FXStreet Karen Jones, head of Technical analysis at Commerzbank, explained that the European currency may fall some in the direction of 0,8555/25.

Important Quotes:

The currency pair EUR/GBP has recently its seven-month downward trend eroded and so a test of the Cross, it is now the 200-day line at 0,8597. A jump about was the Euro so far denied. The risks have changed however, on the upper side and up to the channel top at 0,8714 we see no resistance. In the hourly chart, the thirteenth census, however, so that in the short term, a return to the 0,8555/25 is likely.

With a break below losses in the direction of 0,8334/04 threatening the Euro. Thereafter, the July puts deep-2016 0,8252 in the focus.

** FXStreet News Editorial, FXStreet**

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