EUR/GBP bullish above 0.7663 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The outlook for the European cross remains in the bullish side above 0.7663, according to Senior Technical Analyst at Commerzbank Axel Rudolph.

    Key Quotes

    EUR/GBP dropped to .7654 before sharply reversing its trend and rallying all the way up close to the .7896 February 11 high”.

    “Key resistance is the recent high of .7927 and the .7937 200 week moving average”.

    “If bettered, the .8000 region will be back in play. Immediate upside pressure will be maintained while the four month support line at .7663 underpins”.
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