EUR/GBP could struggle around 0.7555/75 – Commerzbank

FXStreet (Edinburgh) - In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the upside in the European cross is expected to lose steam around 0.7555/75.

Key Quotes

“EUR/GBP we suspect is not a base pattern but may in fact be a continuation pattern we have a number of critical resistances at .7555/75 and yesterdays price action is leaning more heavily to this being a continuation pattern rather than a base”.

“Only a close above .7575 would encourage us to adopt an outright bullish outlook. For now we will look for failure at .7555/75”.