EUR/GBP’s Another Surge

Technical Reports

Another surge towards 0.8981 resistance is expected. Decisive breach in that area will confirm ending of a drop from 0.9305. Following pivot points include: (S1) 0.8857; (P) 0.8878; (R1) 0.8908.

The cross should head towards a test of 0.9304/5 key resistance. Under 0.8835 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.