EUR/GBP’s Uptrend Restoration

Technical Reports

The cross is holding inside of recent diapason of 0.8686/8928. Trading tone is neutral. If 0.8928 resistance holds, short term projection stays slightly bearish. Choppy breach of 0.8686 will prolong the entire fall from 0.9305. Following pivot points include: (S1) 0.8872; (P) 0.8895; (R1) 0.8917.

EUR/GBP should extend towards 61.8% retracement of 0.8312 to 0.9305. Larger drop will align 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.