Daily Pivots: (S1) 0.8371; (P) 0.8392; (R1) 0.8405; More…
Intraday bias in EUR/GBP remains on the downside as fall from 0.8472 short term top is in progress. Sustained break of 55 D EMA (now at 0.8354) will argue that whole rebound from 0.8221 has completed as a corrective move. Nevertheless, strong bounce from the 55 D EMA, followed by break of 0.8419 minor resistance, will argue that the pull back has completed and bring retest of 0.8472.
In the bigger picture, a medium term bottom should be in place at 0.8221, just ahead of 0.8201 key support (2022 low). Sustained trading above 55 W EMA (now at 0.8442) will pave the way to 0.8624 cluster zone (38.2% retracement of 0.9267 to 0.8221 at 0.8621), even just as a correction to the down trend from 0.9267 (2022 high). But still, medium term outlook will be neutral at best as long as 0.8621/4 holds.
 will argue that whole rebound from 0.8221 has completed as a corrective move. Nevertheless, strong bounce from the 55 D EMA, followed by break of 0.8419 minor resistance, will argue that the pull back has completed and bring retest of 0.8472.){kind=link}