• Welcome to your Forex Forum - share your currency trading strategies, news & tips!
    Sign up Log in

EUR/GBP to tank towards the key lows of 2019 and 2020


EUR/GBP has broken below the lower end of the gentle seven-month downtrend channel and prior low for the year at 0.8449/37. This suggests the downtrend is accelerating for a test of the key lows of 2019 and 2020 at 0.8281/39, the Credit Suisse analyst team reports.

We are now seeing an acceleration in the downtrend and we look for the risk to stay directly lower. Support is seen next at 0.8417 ahead of 0.8355 and then 0.8332 and then eventually and more importantly the key lows of 2019 and 2020 at 0.8281/39.