Gold Forecast: A big miss on US CPI to drive XAU/USD above 200-DMA? Gold Weekly Forecast: XAU/USD could target 200-day SMA Gold analysis: Reveals support
EUR/GBP to slump towards the March and May 2019 lows at 0.8471/65 – CommerzbankNEWS |
5/11/2021 7:06:19 AM GMT | By FXStreet Insights Team
EUR/GBP has seen emphatic failure at tough resistance at 0.8722/32. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair t o extend its fall towards the 0.8471/65 neighborhood.
Failure at 0.8471/65 to target 0.8314/0.8239
“EUR/GBP has again failed at the 0.8722/32 tough resistance (highs from March). It is probing the 0.8588 the mid-April low and we continue to favour failure and a slide to 0.8533, the mid-March low. Below here targets the March and May 2019 lows at 0.8471/65.”
“Below 0.8465 we would have to allow for the 0.8314/0.8239 major support zone to be reached (the December 2016, April 2017, December 2019 and February 2020 lows).”
5/11/2021 6:45:58 AM GMT | By FXStreet Insights Team
GBP/USD is hovering above 1.41. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects cable to continue its climb and reach the 2018 high at 1.4377.
Bullish above uptrend at 1.3760
“GBP/USD has eroded 1.4018 and is on target for 1.4238/45, the recent high and the March 2018 high.”
“Cable remains bid while dips hold above the uptrend at 1.3760. We have an additional support line at 1.3819 and only below the uptrend at 1.3760 would we question our bullish stance.”
“Our longer term target is 1.4377 the 2018 high.”
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