EUR/GBP to suffer a deep downturn toward the 0.86 mark – Credit Suisse EURGBP Banks
“EUR/GBP has broken key support from the series of lows for the year at 0.8729/18 as well as its 200-DMA to mark a top. We look for this to act as the catalyst for a more concerted downturn with support seen initially at 0.8648/40 ahead of the uptrend from early 2022, now at 0.8603. Whilst we would look for this to hold initially, we look for a break in due course for the ‘measured top objective’ at 0.8455.
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