Daily Pivots: (S1) 0.9090; (P) 0.9120; (R1) 0.9159; More…
EUR/GBP is still limited below 0.9162 resistance despite current rebound. Intraday bias remains neutral first. Fall from 0.9291 is seen as a corrective move. Below 0.9007 will extend it lower but downside should be contained above 0.8866 support to bring rebound. On the upside, above 0.9162 resistance will turn bias to the upside for 0.9291 resistance first.
In the bigger picture, at this point, we’re seeing the price actions from 0.9499 as developing into a corrective pattern. That is, up trend from 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds. Decisive break of 0.9499 will target 0.9799 (2008 high).
