The EURGBP parity, which started its short-term positive trend outlook on June 20th, ended on June 28th, followed an important process that was able to adapt to its new negative outlook, particularly under pressure of 0.8859. With this in mind, the first theoretical target Fibonacci Expansion reached 0.8927% of 61.8%, the parity may want to record further declines with strong Sterling / weak Euro contact in the new process and may want to move towards other Fibonacci targets.
Main Scenario: EURGBP parity continues its new negative outlook below 0.8959 level. With this in mind, withdrawal towards the 0.8927 and 0.8917 supports can be traced. In particular, Fibonacci Expansion 61.8% below the level of 0.8927 negative pricing can be traced to other Fibonacci regions.
Alternative Scenario: If the EURGBP parity crosses the 0,8959 level, it will return to its final positive trend. With this in mind, it will create an rising towards the 0.8968 and 0.8980 levels, as well as possible rising the 28 June peak 0.8991 level may attract attention.
Support: 0,8927 – 0,8917 – 0,8907
Resistance: 0,8940 – 0,8948 – 0,8959