EUR/GBP’s Recoil Is Over

Technical Reports

Breach of 0.8847 minor support indicates conclusion of recoil from 0.8688 at 0.8923. The fall from 0.9305 is extending. Following pivot points include: (S1) 0.8798; (P) 0.8836; (R1) 0.8859.

Trading of the cross is on the downside towards 0.8688 support. Breach will head towards the key support of 0.8303.

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.