The EUR/GBP Stays in Consolidation

Technical Reports

Trading in the pair is neutral, as a consolidation below temporary top 0.9087 goes on. Pivot points are at: (S1) 0.9027; (P) 0.9051; (R1) 0.9095.

Recoil from 0.8312 should prolong to key maximum 0.9304. Upside of the pair should be limited by resistance from 0.9304. Overcoming of 0.8890 will point out trend reversal.

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. Uptrend from 0.6935 should expand after the consolidation from 0.9304 ends.