EUR/GBP: Further Growth Is Expected

Technical Reports

Trading is neutral, with a temporary top at 0.8994. Further rise is expected. Trading above 0.8994 will aline resistance 0.9097. Following pivot points include: (S1) 0.8907; (P) 0.8942; (R1) 0.8963.

Overcoming of resistance 0.9097 will indicate resumption of the growth from 0.8620 towards high 0.9305. Corrective pull back from 0.9097 should have completed at 0.8847.

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.