EUR/GBP’s Sideway Trading is Progressing

Technical Reports

Trading character is neutral. The sideway trading from 0.8879 is progressing. Breach of 0.8718 support will indicate conclusion of increase from 0.8312. If that happens, trading will turn up on the downside towards a piece of diapason of 0.8312. 0.8312. Following pivot points include: (S1) 0.8809; (P) 0.8835; (R1) 0.8873.

Breach of 0.8879 and stable trading over 0.8851 will head towards a repeat test of 0.9304 maximum.

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.