EUR/GBP's Recoil Is Finished

Technical Reports

Trading of the cross is slightly on the downside to 0.8771 support. Breach in that place will argue ending of recoil from 0.8686 and align a repeat test of minimum. Following pivot points include: (S1) 0.8861; (P) 0.8893; (R1) 0.8912.

Breach of 0.8967 will extend the recoil from 0.8686 to 61.8% retracement of 0.9305 to 0.8686 at 0.9069.

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.