EUR/GBP Could Test 0.7360 – Commerzbank
In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the European cross could slip towards the 0.7360 region.
“EUR/GBP is seeing a small bounce higher from .7654, the March low and we view this as a return to the neckline ahead of further weakness”.
“The .7783 neckline will ideally hold the topside ahead of the next leg down. The head and shoulders top pattern offers a downside measured target to .7360”.