FXStreet reports that analysts at Credit Suisse note that EUR/GBP remains above the key 200-day average and price support at 0.8988/82 and is honing in on the key 0.9230 high following sharp strength this morning.

“EUR/GBP again held key support from its recent low and 200-day average at 0.8988/82 last week and with the market gapping higher this morning, a sideways trend has been reinforced, albeit with the immediate risk higher.”

“Key resistance remains seen at the recent high at 0.9230. Above here would end any lingering thoughts of a potential top and clear the way for a likely panicky move to test of the more important September high at 0.9292, where we would expect to see fresh sellers to maintain the sideways range.” 

“Immediate support is seen at 0.9102, then the price gap from this morning at 0.9078/61."