EUR/GBP: Trend Reversal Is Awaited

Technical Reports

Trading tone is neutral for consolidation below 0.9086. Still, further growth is expected as long as resistance turned support. 0.8931 keeps. Following pivot points include: (S1) 0.8944; (P) 0.8981; (R1) 0.9009.

Hitting of resistance 0.9098 will extend the growth from 0.8655 to key resistance 0.9304. Overcoming of 0.8931 will indicate a near term trend reversal and aline support 0.8810 and below.

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.