EUR/GBP's Medium Term Fall

Technical Reports

The cross is limited inside consolidation from 0.8957. Trading tone is neutral. The forecast is bearish and another increase is projected while 0.8815 support is present. Following pivot points include: (S1) 0.8898; (P) 0.8918; (R1) 0.8946.

Strong breach of 0.8967 cluster resistance should indicate ending of an intact decrease 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.