EUR/GBP: long-term trustworthy trend is showing up

The Euro/Pound continues to target the 0.8815 level in the long view, according to Axel Rudolph, Senior Technical Analyst at Germany's second-largest bank – Commerzbank.

EUR/GBP is to rally further from its August low at 0,8345 towards the August 18th low at 0,8592 and the July peak at 0,8614.

Longer term the market remains on course for the 0,8815 February 2013 peak. The analysts have various Elliott wave counts that suggest that the move will be extending towards to the even higher lever reaching the 0,9250 area.

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