Credit Suisse discusses EUR/GBP technical outlook and adopts a bearish bias over the coming weeks.
"EURGBP has seen a choppy few weeks but with resistance from the .9230 December high capping, we remain of the view we are seeing the formation of the “right shoulder” to a larger top. We thus look for the immediate risk to stay lower with support seen at .8929 initially, then crucially at the key price pivot seen through 2020 at .8871/61," CS notes.
"Ultimately, we need to see a move below here to see a major top established to confirm a large “head & shoulders” top and a major change of trend lower. We would then see support at .8755 initially, ahead of the April 2020 low at .8671," CS adds.