EUR/GBP’s Support Region

Technical Reports

Trading character of the cross is neutral since trading inside of diapason resumes. If 0.8928 resistance holds, short term forecast stays slightly bearish. Sustained breach of 0.8686 will prolong the intact fall from 0.9305. Following pivot points include: (S1) 0.8852; (P) 0.8871; (R1) 0.8901.

EUR/GBP should head towards 61.8% retracement of 0.8312 to 0.9305. Larger fall will head towards repeat test of 0.8303/8312 support region. Breach of 0.8928 will argue short term reversal, and prognosis will become bullish till 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.