EUR/GBP risks further pullbacks near term – UOB

According to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, EUR/GBP remains under pressure and could grind lower in the short-term horizon.

Key Quotes

“No change. EUR/GBP is under pressure in its range and near term risks are on the downside. Support lies at the .8503 recent low and then the .8471 long term pivot. Initial resistance is the 55-day ma at .8586 ahead of stronger resistance at .8673, the 25th May high.”