Corrective Pull Back In EUR/GBP Continues

Technical Reports

Trading is neutral, as the pair is staying above support 0.8815. The corrective pull back from 0.8597 goes on and could extend lower. Further growth is expected. Pivot points are at: (S1) 0.8875; (P) 0.8889; (R1) 0.8906.

Overcoming of 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963) will point out completion of whole fall from 0.9305 and the cross will aline 61.8% retracement at 0.9043.

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 0.8303.