EUR/GBP to stage a more concerted downturn – Credit Suisse

EUR/GBP maintains its break of key support from the series of lows for the year at 0.8729/18. Economists at Credit Suisse expect the pair to suffer further losses.

Resistance at 0.8770 set to cap

“We continue to look for a more concerted downturn, with support seen initially at 0.8648/40, ahead of the uptrend from early 2022, now at 0.8605. 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.” 

“Resistance at 0.8770 ideally caps.”