EUR/GBP: Slowly grinding higher – Commerzbank

Karen Jones, analyst at Commerzbank, explains that EUR/GBP cross continues to slowly inch higher and yet again the new high at .9003 has not been confirmed by the daily RSI.

Key Quotes

“It looks to be resuming its up move and for now we will simply go with it. The .8980/94 level is regarded as the last defence for .9120 December 2018 high and the .9245 2008-2019 resistance line.”

“Dips will find initial support at .8872 the 20th June low ahead of the 200 day ma at .8784.”

“We regard .8465 as an interim low.”