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Aug 27 - 09:55 AM

EUR/GBP: Below .8937 To Establish A S/T Top Towards 0.8864; Negate Above .99045 - Credit Suisse

By eFXdata  —  Aug 27 - 08:25 AM

Credit Suisse flags a scope for a short-term top in EUR/GBP.

"Support is seen at .8937, below here though would see a top established to warn of a more meaningful turn lower with support seen next at .8909 and then more importantly at .8866/64 – the highs of April and lows of June and also the 61.8% retracement of the April/June rally – which we would expect to hold at first," CS notes. 

"Above .9045 can further reinforce a sideways range, but with a break above .9070/72 needed to see the “outside day” negated and the risk turn higher again, for strength back to .9119/25," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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