EUR/GBP: Growth Resumption is Expected

Technical Reports

Stance of trading is neutral, as the cross retreated after hitting 0.8826. Following pivot points include: (S1) 0.8751; (P) 0.8788; (R1) 0.8812.

Overcoming of cluster resistance 0.8967 will confirm a near term trend reversal. Trading below 0.8679 will back to the downside for 0.8620. Break of 0.8826 will renew the bounce from 0.8620 to 0.8967.

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.