EUR/GBP's Long Term Diapason Pattern

Technical Reports

Trading character of the cross is neutral. The consolidation from 0.8957 is extending. The forecast is bearish and another surge is projected while 0.8815 support is present. Following pivot points include: (S1) 0.8861; (P) 0.8894; (R1) 0.8932.

Sustained breach of 0.8967 cluster resistance should indicate conclusion of an intact drop 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.