Daily Pivots: (S1) 0.8450; (P) 0.8472; (R1) 0.8491; More….
EUR/GBP’s fall from 0.8624 is in progress and intraday bias stays on the downside. for retesting 0.8382 low. Decisive break there will resume larger down trend. On the upside, above 0.8507 support turned resistance will turn intraday bias neutral first.8507 support turned resistance will turn intraday bias neutral first.
In the bigger picture, while the rebound from 0.8382 is strong, there is no confirmation of trend reversal yet. As long as 0.8643 resistance holds, down trend from 0.9267 could still resume through 0.8382 at a later stage towards 0.8201 (2022 low). However, firm break of 0.8643 will indicate that such down trend has completed, and turn outlook bullish for 0.8764 resistance next.
