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19 May 2014
EUR/GBP aims for 0.8000 while below 0.8248 – Commerzbank
FXStreet (Edinburgh) - The door would be open for extra pullbacks while the EUR/GBP keeps the trade below the 0.8248 level, suggested Axel Rudolph, Senior Technical Analyst at Commerzbank.
Key Quotes
“It again targets the .8128 current May low, a fall through which will eye the .8114 September 2012 high. Further down the 2010 low at .8067 can be seen”.
“Minor resistance comes in at last week’s .8183 high and at .8192/.8205 which consists of the late February, March and April lows.
“While trading below the current May .8248 spike high the odds will continue to favour a significant decline back towards the .8000 mark”.
Key Quotes
“It again targets the .8128 current May low, a fall through which will eye the .8114 September 2012 high. Further down the 2010 low at .8067 can be seen”.
“Minor resistance comes in at last week’s .8183 high and at .8192/.8205 which consists of the late February, March and April lows.
“While trading below the current May .8248 spike high the odds will continue to favour a significant decline back towards the .8000 mark”.