EUR/GBP’s Uptrend Should Expand

Technical Reports

The cross has closed over 0.8756 support. Trading character is neutral. If 0.8756 support stands, further surge is awaited. Following pivot points include: (S1) 0.8782; (P) 0.8827; (R1) 0.8853.

Over 0.8948 the lift from 0.9312 will head towards a repeat test of 0.9304 maximum. Decisive breach of 0.8756 will point out short term reversal and trading will turn up on the downside.

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.