EUR/GBP technical conditions around Greece - CB

FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted the technical conditions surrounding EUR/GBP as we move through the latest headlines over the Greece debacle.

Key Quotes:

"EUR/GBP has charted a key day reversal from the base of the .6985 6 year down channel."

"This was our medium downside target. Intraday Elliott wave counts are suggesting that we allow for recovery to the 55 day ma at .7209 but I have little beyond that. Dips lower will find minor support at 0.7080/60 ahead of .6985."

"Failure here will target the .6571/41 2007 low. Above .7212 will allow for a deeper recovery to the 0.7314 2015 resistance line."