EUR/GBP: Further upside to unfold in the medium-term – Credit Suisse

FXStreet Insights Team FXStreet

EUR/GBP has broken key resistance at 0.8746/19. Economists at Credit Suisse expect the pair to enjoy further upside.

Immediate support seen at 0.8721

“We expect further upside to unfold in the medium-term, with next significant resistance seen at the neckline to the late 2020 top and the 61.8% retracement at 0.8861/76, a clear break above which would support strength to the 78.6% retracement and psychological resistance at 0.9000/58.”

“Immediate support is seen at the broken YTD high at 0.8721 and then further below at the recent low at 0.8624, with only a break below here raising concern of a false breakout.”

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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