Daily Pivots: (S1) 0.8811; (P) 0.8850; (R1) 0.8881; More…
Intraday bias in EUR/GBP remains mildly on the downside at this point. Corrective pattern from 0.8977 is in progress with another falling leg. Deeper fall would be seen to 0.8753 support and possibly below. On the upside, above 0.8924 will bring retest of 0.8977 instead.
In the bigger picture, outlook is rather mixed for now, except that price actions from 0.9267 (2022 high) are part of the long term range pattern from 0.9499 (2020 high). With 0.8720 support intact, rise from 0.8545 is in favor to continue through 0.8977. However, firm break of 0.8720 will argue that such rebound has completed, and open up deeper fall through this support level.
