EUR/GBP moves steadily higher, resistance seen at 0.9025 – Credit Suisse
|Analysts at Credit Suisse expect the EUR/GBP pair to resume its uptrend with resistance seen at 0.9025/28 after breaking the 0.9013 level.
Key quotes
“A clear break above the top of the recent ‘outside day’ high at 0.9013 remains needed to add weight to our view an important turn higher is indeed underway again with resistance then seen at 0.9025/28 initially, then the recent high and ‘measured base objective’ at 0.9056/57. Whilst a fresh rejection from here should be allowed for, above in due course can see resistance next at the 50% retracement of the March/April fall at 0.9086 and eventually at the 61.8% retracement at 0.9184.”
“Support at 0.8948/40 now ideally holds to keep the immediate risk higher. A break can see a fall back to 0.8917, then 0.8888/82, potentially a retest of 0.8866/64.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.