EUR/GBP’s Confining Diapason

Technical Reports

The cross is confined inside of diapason under 0.8879. Trading state is neutral. Breach of 0.8718 support will indicate ending of increase from 0.8312. If that happens, trading will turn up on the downside towards a piece of diapason of 0.8312. Following pivot points include: (S1) 0.8835; (P) 0.8847; (R1) 0.8860.

Breach of 0.8879 and resilient 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.