Range Trading In EUR/GBP
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) 0.8965; (P) 0.8989; (R1) 0.9014.
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.