Progression of EUR/GBP’s Fall

Technical Reports

Trading of the cross is still neutral. EUR/GBP remains inside of 0.8686/8928 diapason. If the entire 0.8928 resistance is present, prognosis remains bearish. Sustained breach of 0.8686 will extend the fall from 0.9305. Following pivot points include: (S1) 0.8775; (P) 0.8799; (R1) 0.8843.

The level of 61.8% retracement of 0.8312 to 0.9305 is about to be reached. Larger decrease will head towards repeat test of 0.8303/8312 support area. Breach of 0.8928 will mark short term reversal, and prognosis will become bullish to 0.9304 resistance.

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.