Support Area in EUR/GBP

Technical Reports

Trading character of the cross is neutral. EUR/GBP has hit the support from the support area of 0.8666/86. Another surge is expected. Following pivot points include: (S1) 0.8720; (P) 0.8734; (R1) 0.8754.

Breach of 0.8796 will expand the recoil from 0.8666 and align 61.8% retracement of 0.8967 to 0.8666 at 0.8852 and higher. Firm breach of 0.8666 will prolong the entire drop from 0.9305 and head towards the key support of 0.8312.

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.