Larger Retreat In EUR/GBP

Technical Reports

Trading tone of the cross is neutral. The corrective pattern from 0.8957 is extending. Break of 0.8864 will draw larger retreat. Short term forecast stays bullish while 0.8815 support is present. Deeper rally from 0.8620 should prolong. Following pivot points include: (S1) 0.8871; (P) 0.8895; (R1) 0.8908.

Choppy breach of 0.8967 cluster resistance should point out conclusion of the intact fall from 0.9305. In that case, EUR/GBP would head towards 61.8% retracement at 0.9043.

The cross stuck inside of a long term diapason pattern from 0.9304. In case of another rally, sustained resistance from 0.9304/5 might bound upside. Firm support from 0.8303 would restrain downside if further medium term drop occurs.