EUR/GBP gains limited around 0.8162 – Commerzbank

The upside in the cross could run out of steam shortly, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“EUR/GBP’s shot higher towards the target .8030/65, this is the measurement higher from the base .7492 - .6937”.

“Fridays high came very close to here (.8019). We look for the upmove to start to struggle shortly - the 2008-2016 resistance line is located just above here at .8162 so upside scope is now considered to be limited”.