Downside of EUR/GBP's Pull Back

Technical Reports

Trading of the cross is neutral to consolidation under the short term top of 0.8890. The minor support of 0.8796 will retain downside of a pull back and draw a rally restoration. Following pivot points include: (S1) 0.8822; (P) 0.8844; (R1) 0.8859.

Breach of 0.8890 will extend the recoil from 0.8620 and align the cluster resistance of 0.8967.

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.