EUR/GBP’s Trading in Diapason
Trading of the cross is still neutral. Trading inside of diapason is progressing. If 0.8928 resistance is present, prognosis remains bearish and further drop is awaited. Decisive breach of 0.8686 support will continue the whole decline from 0.9305. Following pivot points include: (S1) 0.8734; (P) 0.8783; (R1) 0.8813.
EUR/GBP should align 61.8% retracement of 0.8312 to 0.9305. Larger fall will head towards a repeat test of 0.8303/8312 support area.
Strong breach of 0.9304/5 should 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.