EUR/GBP’s Fall Should Extend

Technical Reports

Trading tone of the cross is neutral. EUR/GBP has recently hit the key support of 0.8686. Another recoil is possible. Over 0.8796, 61.8% retracement of 0.8967 to 0.8666 at 0.8852 and even higher will be aligned. Following pivot points include: (S1) 0.8765; (P) 0.8777; (R1) 0.8792.

Choppy breach of 0.8666 will extend the fall 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.