EUR/GBP's Another Increase

Technical Reports

The cross is about to stage another lift. Breach of 0.8928 resistance suggests short term trend reversal. The fall from 0.9305 has concluded at 0.8686 as 61.8% retracement of 0.8312 to 0.9305 had been reached. Following pivot points include: (S1) 0.8878; (P) 0.8913; (R1) 0.8941.

Another increase should head towards 61.8% retracement of 0.9305 to 0.8686 at 0.9069. Decisive breach in that place will align repeat test of 0.9305 maximum. Under 0.8877 minor support, the bullishness will be muted and 0.8771 support will be hit.

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.