Bearish Forecast Of EUR/GBP

Technical Reports

Trading is still on the downside for support 0.8620, as fall from 0.9098 continues. Following pivot points include: (S1) 0.8688; (P) 0.8719; (R1) 0.8734.

Overcoming of minor resistance 0.8800 will indicate a short term bottoming. A near term forecast will remain bearish in case of recovery. Hitting of support 0.8620 will target 100% projection o f0.9098 to 0.8722 from 0.8939 at 0.8563.

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.