Daily Pivots: (S1) 0.9006; (P) 0.9045; (R1) 0.9104; More…
Intraday bias in EUR/GBP remains on the upside for 0.9297 resistance. Break there will resume the rebound from 0.8670 for 0.9499 high. On the downside, below 0.9004 resistance turned support will turn intraday bias neutral again 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).
