EUR/GBP's Bullish Short Term Prognosis

Technical Reports

The cross is recommencing before the minor support of 0.8796. Trading character is neutral. While the whole 0.8796 is present, a short term prognosis will remain mildly bullish. Breach of 0.8890 will extend the recoil from 0.8620 and align the cluster resistance of 0.8967. Following pivot points include: (S1) 0.8793; (P) 0.8817; (R1) 0.8835.

Breach of 0.8796 will indicate ending of the intact recoil from 0.8620. In that case, larger decline will head towards 0.8724 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.