Bullishness in EUR/GBP

Technical Reports

Firm recoil and breach of a short term falling channel boosts bullishness. Trading of the cross is now on the upside to 0.8844 resistance. Breach will extend the intact recoil from 0.8620 and align cluster resistance of 0.8967. Following pivot points include: (S1) 0.8769; (P) 0.8785; (R1) 0.8813.

Sustained breach should indicate medium term reversal. Under the minor support of 0.8755, trading will turn up in the neutral position.

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.