Another Breach in EUR/GBP

Technical Reports

Trading of the cross is still on the downside if the whole minor resistance of 0.8896 holds. Decline from 0.8967 should head towards 0.8871 support. Breach in that area will indicate ending of recoil from 0.8686 and align repeat test of the minimum. Following pivot points include: (S1) 0.8855; (P) 0.8870; (R1) 0.8890.

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.