The EUR/GBP Stays in Consolidation

Technical Reports

Trading in the pair is neutral, as consolidation below 0.8994 continues. Pivot points are at: (S1) 0.8933; (P) 0.8961; (R1) 0.8991.

Growth from 0.8312 goes on. Upside of the pair should be limited by resistance from 0.9304. Trend reversal in the pair is possible.

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.