EUR/GBP's Recommencement

Technical Reports

Trading of the cross remains neutral to consolidations. Firmer recoil is expected. Recommencement should be bounded under 0.8796 resistance, drawing further decrease. Following pivot points include: (S1) 0.8634; (P) 0.8650; (R1) 0.8672.

Breach of 61.8% projection of 0.9305 to 0.8745 from 0.8967 at 0.8621 will align 100% projection at 0.8407.

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.