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03.02.2021 18:48

EUR/GBP to extend the downfall towards 0.8609 – Credit Suisse

FXStreet reports that Credit Suisse analyst team discuss EUR/GBP prospects.

“EUR/GBP maintains its large ‘head & shoulders’ top below medium-term support at 0.8871/61, the key series of price and highs lows seen through 2020 and with resistance from the 13-day exponential average still capping, now seen at 0.8862, we continue to look for a more significant turn lower. Support is seen at 0.8795/91, below which should clear the way for a move to 0.8700 ahead of the April 2020 low at 0.8671. Whilst this latter support should be allowed to hold at first, below in due course should see a move to the ‘neckline’ to the late 2019/early 2020 base at 0.8609.”


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