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9 Apr 2015
EUR/GBP: 0.7223 exposed below 0.7408, Jan's peak - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted the conditions surrounding EUR/GBP.
Key Quotes:
"EUR/GBP has again been rejected by resistance offered by the March peak at 0.7385 and the 0.7408 January – this is expected to cap."
"While this remains the case, last week’s low at 0.7223 is exposed. Once it has been slipped through, the 0.7200 region should be back on the map. Another potential support level is the March 19 low at 0.7155."
"Only if a rise and daily chart close above the 0.7408 January low were to be made, would we have to allow for further upside towards the 0.7500 region to be seen."
Key Quotes:
"EUR/GBP has again been rejected by resistance offered by the March peak at 0.7385 and the 0.7408 January – this is expected to cap."
"While this remains the case, last week’s low at 0.7223 is exposed. Once it has been slipped through, the 0.7200 region should be back on the map. Another potential support level is the March 19 low at 0.7155."
"Only if a rise and daily chart close above the 0.7408 January low were to be made, would we have to allow for further upside towards the 0.7500 region to be seen."