EUR/GBP's Long Term Consolidation Pattern

Technical Reports

Trading tone of the cross is neutral. Over 0.8808, EUR/GBP will align 0.8844. Decisive breach in that zone will point out bullishness and extend the recoil from 0.8620 to the cluster resistance of 0.8967. Following pivot points include: (S1) 0.8750; (P) 0.8769; (R1) 0.8806.

Breach of 0.8679 minor support should point out ending of recoil from 0.8620. In that case, trading will turn up on the downside to this support.

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.