EUR/GBP’s Downside Trading

Technical Reports

If the entire minor resistance of 0.8896 holds, trading of the cross stays on the downside. Drop from 0.8967 should align 0.8871 support. Breach in that zone will indicate conclusion of recoil from 0.8686 and head towards repeat test of the minimum. Following pivot points include: (S1) 0.8847; (P) 0.8872; (R1) 0.8894.

Over 0.8896 minor resistance, trading will turn up in the neutral position. Another 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.