EUR/GBP's Short Term Channel

Technical Reports

The cross recoiled after it touched 0.8693. It got support from a short term channel. EUR/GBP is holding inside of 0.8679/8844 diapason. Trading stays neutral. Following pivot points include: (S1) 0.8725; (P) 0.8755; (R1) 0.8813.

Breach of 0.8844 will extend the recoil from 0.8620 and confirm bigger bullish reversal. The cross should align cluster resistance of 0.8967. Breach of 0.8679 support will argue ending of the rebound form 0.8620. In that case, trading will turn up on the downside to this minimum.

The fall from 0.9305 is a part of consolidation from 0.9304, which could extend further. If firm rally occurs, firm resistance of 0.9304/5 will bound upside. Sustained support from the cluster support of 0.8116 is expected to restrain downside.