EUR/GBP Loses Upside Impulse

Technical Reports

Trading is on the upside, as the growth from 0.8655 is in progress for resistance 0.9098. The cross lost some upside momentum. Following pivot points include: (S1) 0.9023; (P) 0.9047; (R1) 0.9089.

Hitting of resistance 0.9098 will extend the growth from 0.8655 to key resistance 0.9304. Trading below minor support 0.8988 will become neutral and bring some consolidation.

The cross remains inside of a long term diapason pattern from 0.9304. Hitting of resistance 0.8939 will indicate that it’s in a medium term rising leg for 0.9098 and above. As another fall is not excluded, downside should be contained by support zone 0.8620/55.