Cluster Support in EUR/GBP

Technical Reports

Trading character of the cross is neutral. The key support of 0.8686 has been recently met. Another recoil is projected. Over 0.8796, EUR/GBP will align 61.8% retracement of 0.8967 to 0.8666 at 0.8852 and higher. Following pivot points include: (S1) 0.8728; (P) 0.8747; (R1) 0.8762.

Decisive breach of 0.8666 will expand the reduction from 0.9305 and head towards the key support area of 0.8303.

Sustained breach of 0.9304/5 will indicate restoration of an uptrend. Diapason trading will resume with a possibility of larger decline. EUR/GBP might align a repeat test of 0.8303 level. Firm support from the cluster support of 0.8116 should restrain downside.