EUR / GBP is consolidating EUR / GBP for losses from the previous day. Karen Jones, head of technical analysis research at Commerzbank, expects the pair to remain under pressure if it trades below 0.8643.
The 55-day moving average continues to limit growth to 0.8617
Try the EUR / GBP pair EUR / GBP The moving average for 55 days is 0.8617 on Friday, which has so far maintained the upper limit. At this point, breaking this area is not enough to remove the bearish distortion, and the current bearish pressure should remain in control if the pair remains below the June 10 high of 0.8643, above which a maximum of 0.8673 can be recorded at the end of May. “
“As long as the rally is limited to 0.8643, we still cannot rule out a drop to last week’s lows from 0.8530, below which April lows appear at 0.8471.”