- Analytics
- News and Tools
- Market News
- EUR/GBP: Support at 0.8530/11 to hold for a retest of key resistance at 0.8722/47 – Credit Suisse
EUR/GBP: Support at 0.8530/11 to hold for a retest of key resistance at 0.8722/47 – Credit Suisse
EUR/GBP is set to hold support at 0.8530/11 for a retest and break above 0.8722/47. What’s more, analysts at Credit Suisse expect the pair to enjoy an eventual rise toward the “neckline” and the 2020 top at 0.8861/76.
Broader basing process stays seen as underway
“We continue to view weakness as corrective. Above 0.8638/45 can add weight to our view for strength back to 0.8671/73, ahead of a retest of 0.8722/47. Beyond here in due course should then add weight to our view a broader basing process is underway with resistance seen next at the ‘neckline’ to the 2020 top and 61.8% retracement at 0.8861/76.”
“Below 0.8511 would see the uptrend break, but only below 0.8489/81 though would be seen to suggest the broader trend is shifting neutral again, with support seen next at 0.8457/43.”
© 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
