Repeat Test of EUR/GBP’s Support Area

Technical Reports

The cross remains inside of 0.8686/8928 diapason. Trading character is neutral. If the entire 0.8928 resistance holds, prognosis remains bearish. The decline from 0.9305 should continue. Following pivot points include: (S1) 0.8729; (P) 0.8752; (R1) 0.8788.

Breach of 0.8686 should hit 61.8% retracement of 0.8312 to 0.9305. Larger decrease will head towards 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.