EUR/GBP's Rising Channel

Technical Reports

The cross got rejected from 0.9097 and declined to 0.8971. Larger retreat is likely. EUR/GBP is holding inside of rising channel and over 0.8895 support. Following pivot points include: (S1) 0.8948; (P) 0.9021; (R1) 0.9058.

Deeper rally from 0.8620 should edge upwards. Breach of 0.9097 will align a test on 0.9305 maximum. Strong breach of channel support will suggest trend reversal and 0.8895 level will be aligned.

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.