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27 Jan 2016
EUR/GBP well supported at 0.7492/0.7508 – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the strong support area around the 0.7500 handle.
Key Quotes
“EUR/GBP is nervous of the topside having most recently failed just ahead of the 7762 2012 low. This is quite a pivot point and is regarded as formidable resistance near term”.
“Dips lower are finding good support circa .7492, the October high and .7508 the short term uptrend. Such a move would be regarded as a return to point of break out”.
Key Quotes
“EUR/GBP is nervous of the topside having most recently failed just ahead of the 7762 2012 low. This is quite a pivot point and is regarded as formidable resistance near term”.
“Dips lower are finding good support circa .7492, the October high and .7508 the short term uptrend. Such a move would be regarded as a return to point of break out”.