EUR/GBP Formed A Temporary Top

Technical Reports

Trading of the cross is now neutral. The consolidation from a short term top of 0.8875 might be in progress. Upside of recovery should be bounded under 0.9051 resistance, drawing further drop. Following pivot points include: (S1) 0.8885; (P) 0.8913; (R1) 0.8937.

Intact corrective lift from 0.8620 might have ended at 0.9097. Under 0.8875 will align 61.8% retracement of 0.8620 to 0.9097 at 0.8802 and lower.

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.