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Saturday, January 16, 2021

EUR/GBP: Proper shoulder to a bigger high. Focusing on 0.8609

Credit score Suisse on EUR/GBP

Credit Suisse on EUR/GBP

Credit score Suisse discusses EUR/GBP technical outlook and sees a scope for the transfer decrease to increase by 0.8609 early 2020 base.

“EURGBP weak spot has accelerated following its rejection from resistance at .9096 and we stay of the view we could also be seeing the development of the “proper shoulder” to a bigger high.
Certainly, additional worth assist at .8931/29 has been eliminated with ease
and we search for a retest of medium -term assist at .8871/61, the important thing
sequence of lows seen by 2020,” CS notes. 

“In the end, this must be eliminated to see a serious high established
to mark a serious flip decrease, with assist then seen subsequent and initially at
the April 2020 low at .8671, then 8609 – the “neckline” to the late 2019/early 2020 base,” CS provides.

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