- Analytics
- News and Tools
- Market News
- EUR/GBP: Sustained break of 0.8402 to trigger a fall towards 0.8281/39 – Credit Suisse
EUR/GBP: Sustained break of 0.8402 to trigger a fall towards 0.8281/39 – Credit Suisse
EUR/GBP is extending its aggressive rejection from its 200-day moving average (DMA) at 0.8575. Analysts at Credit Suisse look for a sustained break below 0.8402 for a test of long-term support at the 2019 and 2020 lows at 0.8281/39.
Near-term resistance moves to 0.8438
“EUR/GBP is attempting to remove to the 0.8414/02 lows of October and November. We look for a sustained move below here to open the door to a test of 0.8339/32 next and eventually long-term support from the 2019 and 2020 lows, as well as the 50% retracement of the upmove from 2015 at 0.8281/17. Whilst we would look for a fresh hold here for now, an eventual break would see a multi-year top established.”
“Near-term resistance moves to 0.8438, then 0.8463/68, with 0.8483 now ideally capping to keep the immediate risk lower. Above can see a recovery back to 0.8521/25, but with fresh sellers expected to show here.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
