FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that the EUR/GBP market has based. Key Quotes: "The market last week eroded major resistance at 0.7555/75, we have charted a weekly close above here and above the 23.6% retracement of the move down from the 2009 high – this was located at 0.7614 and suggests that the market has indeed based. The base 0.7492-0.6937 suggests an upside measured target to approximately 0.8030/50. However the 0.7762 2012 low is likely to offer formidable resistance on route." For more information, read our latest forex news.