Further Rally In EUR/GBP

Technical Reports

Rally in the cross is progressing and hits 0.9029 maximum. Trading remains on the upside to 61.8% retracement of 0.9305 to 0.8620 at 0.9043. Decisive breach in that area will align repeat test of 0.9305 maximum. Following pivot points include: (S1) 0.8972; (P) 0.8995; (R1) 0.9034.

Under the minor support of 0.8984, trading will become neutral. Pull back will be restrained over 0.8845 support, drawing further rally.

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.