EUR/GBP Heads Lower, Consolidation Possible - Commerzbank

0836 GMT [Dow Jones]--EUR/GBP fell to 0.8083, its lowest level since December 2012, after the weak German Ifo survey Friday. Commerzbank technical analyst Karen Jones says immediate focus is on the 2010 low of 0.8067, but warns that with the cross charting an inside day Thursday, there may be some consolidation seen before the next leg lower. EUR/GBP now at 0.8090, Jones retains a downside target of 0.7983, adding that rallies will have no impact on the negative outlook while capped below the 2-month downtrend line at 0.8198. gary.stride@wsj.com

 
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(END) Dow Jones Newswires

May 23, 2014 04:36 ET (08:36 GMT)