EUR/GBP Dropped

Technical Reports

The cross declined to 0.8889. Trading remains on the downside. Corrective lift from 0.8620 might have finished at 0.9097. Breach of 38.2% retracement of 0.8620 to 0.9097 at 0.8915 suggests bearishness. Following pivot points include: (S1) 0.8877; (P) 0.8918; (R1) 0.8942.

Larger fall should align 61.8% retracement at 0.8802 and lower. Over the minor resistance of 0.8956, trading will become neutral. While 0.9051 resistance is present, the forecast would stay mildly 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.