EUR/GBP: New lows for the year – Commerzbank

Karen Jones, analyst at Commerzbank, points out that EUR/GBP cross has sold off yesterday, and has now eroded the .8465 2019 low.

Key Quotes

“We have TD support at .8440 AND the daily RSI has yet to confirm the new low. However the market continues to look offered and for now we will assume scope to .8314/04 the April 2017 low.”

“Rallies will find initial resistance at the .8563 accelerated downtrend and the .8606 22nd November high. This guards the .8738 4 month downtrend.”