EUR/GBP Restricted In 0.8742/8948

Technical Reports

Trading condition is neutral. The cross is restricted inside of 0.8742/8948 diapason. Under 0.8742, EUR/GBP will head towards 38.2% retracement of 0.8312 to 0.8948 at 0.8705. Following pivot points include: (S1) 0.8825; (P) 0.8844; (R1) 0.8859.

Breach will align 61.8% retracement at 0.8555. Breach of 0.8948 will enlarge the recoil from 0.8312 to 0.9304 resistance.

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.