Credit Suisse Technical FX Strategy Research argues that if EUR/GBP bounce stays above .8790, it can turn attention to a more important barrier at .8852/54 – the January 2017 high and the 50% retracement of the October/December 2016 fall.
We would expect a ceiling to be found here and an attempt to find a fresh top at this level.
Only a breakout above .8854 can suggest a more sustainable rally is underway to then aim at .9028/50 then .9142 with the major price barrier at .9403/13," CS adds.
EUR/GBP is trading circa 0.8780 as of writing
