Progression of EUR/GBP’s Decline

Technical Reports

The decline from 0.9305 is progressing. Trading is on the downside towards 61.8% projection of 0.9305 to 0.8745 from 0.9032 at 0.8686. Breach will align 100% projection at 0.8472. Following pivot points include: (S1) 0.8741; (P) 0.8762; (R1) 0.8791.

Over 0.8826 minor resistance trading will turn up in the neutral position. If 0.9032 resistance stands, short term prognosis stays bearish.

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.