EUR/GBP’s Intact Resistance

Technical Reports

Trading of the cross stays neutral. EUR/GBP is sticking inside of 0.8732/0.9032 diapason. Larger drop is awaited if the intact 0.9032 resistance is present. Breach of 0.8732 will extend the decline from 0.9305 and align key support of 0.8303. Following pivot points include: (S1) 0.8843; (P) 0.8864; (R1) 0.8887.

Sustained breach of 0.9032 will argue conclusion of the fall from 0.9305. If that happens, trading will turn up on the upside towards a repeat test of key resistance 0.9305.

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.