Consolidation in EUR/GBP Goes On

Technical Reports

Trading in the pair is neutral for consolidation below 0.8879. Overcoming of support 0.8718 will affirm that the lift from 0.8312 has finished. Following pivot points include: (S1) 0.8769; (P) 0.8793; (R1) 0.8831.

Trading might turn up on the downside towards a piece of diapason of 0.8312. Overcoming of 0.8879 and stable trading over 0.8851 will head towards a repeat test of a maximum 0.9304.

Price behavior from 0.9304 is considered as a medium term corrective pattern, which might be progressing. If further decline occurs, firm support from 0.8116 will fill the downside and cause recoil. The entire uptrend from 0.6935 should expand after the consolidation from 0.9304 ends.