EUR/GBP: Temporary Low Was Formed

Technical Reports

Trading is neutral for consolidation above temporary low 0.8690. Deeper fall is still possible while minor resistance 0.8800 keeps. Following pivot points include: (S1) 0.8688; (P) 0.8719; (R1) 0.8734.

Overcoming of minor resistance 0.8800 will turn focus back to resistance 0.8939. Hitting of support 0.8620 will target 100% projection of 0.9098 to 0.8722 from 0.8939 at 0.8563. Break of 0.8690 will widen the fall from 0.9098 to support 0.8620.

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.