EUR/GBP’s Drop Restoration

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. Over 0.8878 minor resistance the corrective surge from 0.8745 will enlarge. Following pivot points include: (S1) 0.8747; (P) 0.8785; (R1) 0.8804.

61.8% retracement of 0.9305 to 0.8745 at 0.9091 will limit the upside and lead to a drop restoration.

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.