Range Trading In EUR/GBP

Technical Reports

Trading tone is neutral, a the cross is staying in a tight range below 0.8901. Still, further growth is expected, considering minor support 0.8808. Pivot points are at: (S1) 0.8820; (P) 0.8838; (R1) 0.8855.

Deeper fall is possible to support 0.8724. Overcoming of 0.8901 will renew the whole growth from 0.8620 to 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). Break of support 0.8808 will point out completion of a recoil from 0.8620.

The cross is staying in a long term consolidation from 0.9304, which could extend further. In case of another growth, upside should be bounded by strong resistance by 0.9304/5 Downside should be contained by strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120).