EUR/GBP’s Support Region

Technical Reports

Sideway trading is taking plane inside of 0.8686/8928 diapason. Trading condition is neutral. If the entire 0.8928 resistance is present, larger decline is expected. Choppy breach of 0.8686 will expand the intact fall from 0.9305. Following pivot points include: (S1) 0.8801; (P) 0.8829; (R1) 0.8853.

EUR/GBP should hit 61.8% retracement of 0.8312 to 0.9305. Bigger drop should align a repeat test of 0.8303/8312 support region. Breach of 0.8928 will confirm short term reversal and the forecast 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.