Daily Pivots: (S1) 0.8542; (P) 0.8571; (R1) 0.8585; More…
Breach of 0.8559 minor support suggests that rebound from 0.8491 has completed at 0.8609. Intraday bias in EUR/GBP is back on the downside for retesting 0.8491 low first. Firm break there will resume larger down trend. In any case, outlook will stay bearish as long as 0.8667 resistance holds.
In the bigger picture, the down trend from 0.9267 (2022 high) is seen as part of the long term range pattern from 0.9499 (2020 high). Further decline is in favor as long as 0.8667 resistance holds. Break of 0.8502 will resume the fall towards 0.8201 (2022 low).
