EUR/GBP's Short Term Channel Support

Technical Reports

Trading of the cross stays on the upside to repeat test of 0.9097 resistance. Breach in that area will extend deeper rally from 0.8620 for the maximum of 0.9305. Following pivot points include: (S1) 0.8982; (P) 0.9009; (R1) 0.9051.

Breach of 0.8937 support should reach short term channel support, arguing ending of increase from 0.8620 and making the forecast bearish.

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.