EUR/GBP’s Larger Drop

Technical Reports

Trading of the cross is on the downside. Recoil from 0.8688 must have ended at 0.8923. Following pivot points include: (S1) 0.8804; (P) 0.8819; (R1) 0.8829.

Larger drop should align 0.8688. Breach will extend the intact fall from 0.9305 and 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.