FXStreet reports that analysts at Credit Suisse expect EUR/GBP to see near-term consolidation above 0.8627/17, but with the broader trend seen lower for a retest of a cluster of Fibonacci supports at 0.8543/20.

“Our ideal roadmap is for further near-term weakness to 0.8627/17, but with this ideally holding for now for the unfolding of a near-term consolidation phase.” 

“Big picture, we look for a break in due course for a retest of more important Fibonacci support, seen starting at 0.8549 and stretching down to 0.8520 – the 38.2% retracement of the entire 2015/2020 bull trend.”