EUR/GBP's Sideway Trading Prevails

Technical Reports

The cross remained inside of sideway trading in 0.8693/8844. Trading is still neutral. Further consolidation is projected. Following pivot points include: (S1) 0.8798; (P) 0.8810; (R1) 0.8823.

Another rally is expected while minor support of 0.8693 is present. Breach of 0.8844 will extend the recoil from 0.8620 to cluster resistance of 0.8967. Breach of 0.8693 will cause larger decline 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.