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- EUR/GBP: “head & shoulders” base targeting a move towards 0.8861 - Credit Suisse
EUR/GBP: “head & shoulders” base targeting a move towards 0.8861 - Credit Suisse
eFXdata reports that analysts at Credit Suisse discuss EUR/GBP technical outlook and adopts a tactical bullish bias in the near term.
"We now see a “head & shoulders” base established to reinforce the recent bullish “reversal week” to mark a more important turn higher. We would then see resistance initially at the 38.2% retracement of the fall from December at .8761 ahead of .8793/99 and then more importantly at the “neckline” to the medium-term top at .8851/61."
"Support moves back to .8679, with a break below .8667 needed to ease the immediate pressure off resistance at .8722/32."
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