EUR/GBP’s Firm Support

Technical Reports

The pull back from 0.8865 pushed downwards. Still, it’s sticking over 0.8639 support. Trading character is neutral. Following pivot points include: (S1) 0.8704; (P) 0.8755; (R1) 0.8788.

Downside should be filled with a firm support from 0.8639. Then, the growth restoration will occur. Sustained breach of 0.8851 resistance will head towards a repeat test of 0.9304 maximum. Breach of 0.8639 should argue creation of a short term topand lead to larger retreat towards 0.8529 resistance turned support and lower.

Price behavior from 0.9304 is considered as a medium term corrective pattern. The bigger increase from 0.6935 isn’t ready to expand. Rejection from 0.9304 will enlarge the consolidation. Sustained breach of 0.9304 will head towards the maximum of 0.9799. If further fall occurs, firm support from 0.8116 should fill the downside and cause recoil.