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EUR/GBP key levels of support and resistance - CB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - EUR/GBP has reached the 55 week ma at 0.7437 and crumbled and Karen Jones, chief analyst at Commerzbank explained further resistance beyond and supports below spot, currently at 0.7341.

    Key Quotes:

    "The market faces tough overhead resistance at the 0.7482 May peak and this extends from here to 0.7542 (this is the location of the previous 43 year uptrend, which should now act as resistance). "

    "Here we also find the 0.7555 2013-2015 downtrend."

    "55 week ma at 0.7437."

    "Minor support comes in around the 200 day moving average at 0.7281, but ideally we would like to see a close below the 55 day ma at 0.7234 and the September low at 0.7198 to negate upside pressure and refocus attention on the downside to the 0.6937 July low."
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