EUR/GBP: Further gains to the 0.9308 – Commerzbank

The EUR/GBP pair reached the target mark at 0.8979. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, looks for further gains. EUR/GBP is trading at 0.906.

Key quotes

“EUR/GBP has recently met the 0.8979 upside measured target and eroded the 0.9022 October high, we would allow for some near term consolidation around these levels.” 

“The Elliott wave count has turned more positive and dips lower are indicated to hold over the 0.8760/0.8670 band and while above here it will remain relatively stable.” 

“We look for further gains to the 0.9308/27 2017 and 2019 highs.”