EUR/GBP’s Diapason

Technical Reports

Trading tone of the cross is neutral. EUR/GBP is confined inside of diapason under 0.8865. Choppy breach of 0.8851/65 resistance zone will head towards a repeat test of 0.9304 maximum. Following pivot points include: (S1) 0.8800; (P) 0.8831; (R1) 0.8879.

If further drop occurs, 0.8639 support must fill the downside and cause recoil. Breach of 0.8639 support will argue formation of a short term top and 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.