Bearish Forecast For EUR/GBP

Technical Reports

Trading tone of the cross is neutral. EUR/GBP stuck in short term rising channel. The forecast is so far bullish to further surge. Following pivot points include: (S1) 0.8972; (P) 0.8997; (R1) 0.9018.

Over 0.9051, 0.9097 level will be aligned. Breach will extend the rally from 0.8620. 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.