EUR/GBP holds June low at 0.8864 to look for key resistance at 0.9039 – Commerzbank

EUR/GBP has charted a key day reversal as the pair has held the June low at 0.8864. EUR/GBP trades around 0.8925 on Friday while the resistance line is sen at 0.9039, Commerzbank’s Karen Jones briefs.

Key quotes

“EUR/GBP has failed to break below 0.8864, the 9 June low, and has charted a key day reversal – this implies a loss of downside momentum and scope to recover some of its recent losses near-term.”

“Key resistance is the 0.9039 resistance line and this guards the 0.9150/78 recent highs.” 

“Below 0.8864 will introduce potential to reach the 200-day ma at 0.8781.”