Axel Rudolph, Senior Technical Analyst at Commerzbank, believes the European cross could re-visit 0.7567. Key Quotes “EUR/GBP retests its breached four month uptrend line at .7815 around which it is expected to struggle. We thus suspect that near term rebounds will remain shallow”. “The risk is that we will see further weakness to .7567, the 38.2% retracement and potentially .7455, the 50% retracement”. “The market increasingly looks to have topped here and we will for now stick with our neutral forecast”. For more information, read our latest forex news.