EUR/GBP: Corrective Bounce Continues

Technical Reports

Trading is on the upside for 61.8% retracement of 0.9097 to 0.8722 at 0.8954, as corrective rise from 0.8722 extends. Following pivot points include: (S1) 0.8869; (P) 0.8889; (R1) 0.8909.

Overcoming of minor support 0.8825 will indicate completion of the corrective growth and back trading to the downside for 0.8722 and possibly below.

The cross remains inside of a long term diapason pattern from 0.9304. In case of another rally, sustained resistance from 0.9304/5 might bound upside. As fall from 0.9303 extends, downside should be contained by 0.8116 cluster support, 50% retracement of 0.6935 to 0.9304 at 0.8120.