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- EUR/GBP to break below a cluster of key supports at 0.8542/20 – Credit Suisse
EUR/GBP to break below a cluster of key supports at 0.8542/20 – Credit Suisse
FXStreet reports that Credit Suisse analyst team discuss EUR/GBP prospects.
“The spotlight is still firmly on key Fibonacci supports, seen starting at 0.8549 and stretching down to 0.8520 – the 38.2% retracement of the entire 2015/2020 bull trend. Although a further hold here should be allowed for, with a large existing top in place we continue to look for an eventual break in due course to see a move to the ‘measured top objective’ at 0.8430 and eventually we think the key lows of 2019 and 2020 at 0.8281/39.
“Whilst the 0.8281/39 area should clearly be respected, a break would mark the completion of a significantly larger top and more important turn lower.”
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