EUR/GBP stays neutral to negative – Commerzbank

The stance on the European cross remains neutral to negative, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“EUR/GBP’s recent marginal new high of .8775 has not been confirmed by the daily RSI and we are alert to the idea of a small dip back towards the 200 day and 55 day ma at .8604/550 (at the very least). This is regarded as a failure move ahead of the .8790 March high and the .8852 January high”.