EUR/GBP's Reduction

Technical Reports

The cross is sticking inside of 0.8686/8928 diapason. Trading character is neutral. If the whole 0.8928 resistance stands, the forecast remains slightly bearish. Strong breach of 0.8686 will prolong the intact reduction from 0.9305. EUR/GBP should also reach 61.8% retracement of 0.8312 to 0.9305. Following pivot points include: (S1) 0.8785; (P) 0.8804; (R1) 0.8836.

Larger drop should align a repeat test of 0.8303/8312 support zone. 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.