Growth Of EUR/GBP Should Prolong

Technical Reports

Trading is still neutral, as correction from 0.8597 goes on and could extend lower. Further growth is expected. Pivot points are at: (S1) 0.8865; (P) 0.8882; (R1) 0.8899.

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.