EUR/GBP's Long Term Consolidation Pattern

Technical Reports

Trading of the cross stays neutral. EUR/GBP stuck inside of 0.8693/8844 diapason. While 0.8693 support is present, further lift is possible. Following pivot points include: (S1) 0.8757; (P) 0.8796; (R1) 0.8821.

Breach of 0.8844 will extend the recoil from 0.8620 to the cluster resistance of 0.8967. Breach of 0.8693 will cause larger drop to repeat test of 0.8620 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.