EUR/GBP's Recoil Restoration

Technical Reports

The cross rose to the 0.8837 maximum. 0.8844 resistance is aligned. Sustained breach in that area will indicate restoration of recoil from 0.8620. Following pivot points include: (S1) 0.8793; (P) 0.8811; (R1) 0.8829.

Another lift will head towards the cluster resistance of 0.8967. Rejection from 0.8844 will revive sideway trading. While minor support of 0.8693 is present, another rally is expected.

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.