EUR/GBP’s Sideway Trading

Technical Reports

Trading of the cross is still neutral. EUR/GBP is restricted in sideway trading between 0.8732/9032. If the entire 0.9032 resistance holds, prognosis remains bearish. Drop from 0.9305 should expand. Following pivot points include: (S1) 0.8793; (P) 0.8818; (R1) 0.8848.

Breach of 0.8732 will align a key support of 0.8303. 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.