EUR/GBP’s Downside

Technical Reports

Another surge towards 0.8981 resistance is possible if the whole minor support 0.8828 holds. Firm breach in that zone will confirm ending of an intact decline from 0.9305. Following pivot points include: (S1) 0.8861; (P) 0.8875; (R1) 0.8883.

The cross might head towards a test of 0.9304/5 key resistance. Under 0.8828 minor support trading turn up on the downside towards 0.8668.

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.