Rally of EUR/GBP Continues

Technical Reports

Trading is on the upsie for 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). The pair’s growth reaches maximum 0.8817. Following pivot points include: (S1) 0.8669; (P) 0.8709; (R1) 0.8739.

Overcoming of 0.8967 will confirm a near term trend reversal. Trading below 0.8679 will back to the downside for 0.8620.

The fall from 0.9305 is a part of consolidation from 0.9304, which could extend further. Upside should be bounded by strong resistance from 0.9304/5. In case of another fall, strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) should contain downside.