EUR/GBP’s Downside

Technical Reports

Trading of the cross stays slightly on the downside towards 0.8745 support. Breach should expand the decrease from 0.9305 and head towards key support of 0.8303. Following pivot points include: (S1) 0.8793; (P) 0.8820; (R1) 0.8849.

Over 0.8956 minor resistance the corrective lift from 0.8745 will enlarge. 61.8% retracement of 0.9305 to 0.8745 at 0.9091 will bound the upside and cause restoration of drop.

Price behavior from 0.9304 can be corrective pattern. Strong breach of 0.9304/5 will argue uptrend restoration. Diapason trading with a possibility of further decline is threatening. Repeat test on 0.8303 is likely. Sustained support from 0.8116 accumulation of support will restrain the downside.