EUR/GBP while above support at 0.9000/0.8984 holds the downside and analysts at Credit Suisse look for the trend to turn higher again for a retest of resistance at 0.9184.
Key quotes
“Resistance stays seen at 0.9082 initially, then 0.9146/48, above which can see a retest of 0.9178/84. Beyond here in due course can see resistance next at 0.9277, then the 78.6% retracement at 0.9323. Beyond here can eventually expose the 0.9501 high for the year from March.”
“Below 0.9000 and then 0.8984/83 – the uptrend from February – would see the ‘triangle’ negated to see the broader risk turn sideways again with support seen next at 0.8966, then 0.8924.”
Share
