Daily Pivots: (S1) 0.8305; (P) 0.8332; (R1) 0.8352; More…
Intraday bias in EUR/GBP is back on the downside with breach of 0.8316 temporary low. Sustained break of 0.8316 will resume the fall from 0.8624 to 100% projection of 0.8624 to 0.8399 from 0.8463 at 0.8237 next. On the upside, though, above 0.8370 minor resistance will turn bias back to the upside for stronger recovery.
In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 0.8201 (2022 low), but strong support should be seen there to bring rebound. However, outlook will remain bearish as long as 0.8624 resistance holds even in case of strong rebound.
