EUR/GBP: Clear and closing break above 0.9056 points to 0.9184 – Credit Suisse

EUR/GBP has finally seen a decisive break above 0.9056/57 as expected to confirm the looked for bullish ‘triangle’ continuation pattern and analysts at Credit Suisse look for a resumption of the core uptrend from March, with next resistance seen at 0.9184 

Key quotes

“With daily MACD momentum having already turned higher a while ago we maintain our positive bias and continue to look for a sustained move higher and a resumption of the uptrend from March. Indeed, the cross is already above the 50% retracement of the March/April fall at 0.9086 to add weight to this view and we see resistance next at 0.9135/43 and then the 61.8% retracement at 0.9184.” 

“Whilst we would expect the 0.9184 level to cap at first, with our core bias for the EUR outright higher we look for a move above here in due course also, with resistance next at 0.9277.” 

“Support moves to 0.9080/75 initially, then 0.9024, with 0.9000 ideally holding to keep the immediate risk higher.”


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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD recovers towards 1.1750 as risk-on rules

EUR/USD is back around 1.1750 as upbeat US data fueled equities' early rally. Concerns about economic progress remain in the background, as the pandemic keeps taking its toll. 


GBP/USD bounces from 1.30 as demand for the dollar eases

Dollar's corrective advance seems complete, now down against most major rivals. GBP/USD trades little changed for a second consecutive day in the 1.3060/70 price zone. Market players continue to ignore upcoming Brexit chaos.


Gold: Interesting Fibonacci extension projects a move to $2500

Gold has risen 10.74% in the month of July, the biggest monthly increase since February 2016. As the price is breaking all-time highs it's hard to say where the yellow metal could end up.

Gold News

ETH/BTC skyrocketing, Bitcoin stays above $11,000

The cryptocurrency market is influenced by leveraged positions liquidation. Cryptocurrency experts expect further growth amid a global flight to safety assets. ETH/BTC hits the highest level since May 2019.

Read more

WTI drops below $40 on demand worries, OPEC+ output increase

Crude oil prices posted losses last week and seem to be struggling to shake off the bearish pressure on Monday. As of writing, the barrel of West Texas Intermediate (WTI) was trading at $39.85, losing 1.5% on a daily basis.

Oil News