EUR/GBP upside intact above 0.7700 – Commerzbank

FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, the bullish momentum in the cross is poised to persist while above 0.7700.

Key Quotes

“EUR/GBP continues to hold steady and continues to hold trendline support lies at .7700 currently – while under pinned here an upside bias will remain intact”.

“We look for a re-test of the recent high of .7896. We continue to target .8030/50, this is the measurement higher from the base .7492-.6937 it is also a Fibonacci retracement and we would expect to see initial failure in this vicinity”.