EUR/GBP’s Downside

Technical Reports

Upside impulse is feeble. Another rise towards 0.8981 resistance is likely if the intact minor support of 0.8828 is present. Firm breach in that zone will argue that the decline from 0.9305 has finished. Following pivot points include: (S1) 0.8868; (P) 0.8881; (R1) 0.8895.

EUR/GBP should 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.