EUR/GBP’s Drop

Technical Reports

Trading tone of the cross is neutral. If the 0.8866 stands, further decline is possible. Under 0.8760 minor support trading will turn up on the downside towards 0.8688. Following pivot points include: (S1) 0.8806; (P) 0.8836; (R1) 0.8874.

Breach will enlarge the entire decrease from 0.9305. Sustained breach of 0.8866 resistance will confirm short term reversal and trading will turn up on the upside towards 0.8981 resistance and higher.

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.