Daily Pivots: (S1) 0.8794; (P) 0.8815; (R1) 0.8830; More…
Intraday bias in EUR/GBP is turned to the downside with breach of 0.8808 minor support. Deeper fall would be seen to 0.8688 low first. Break there will resume whole decline from 0.9305. This will be favored as long as 0.8928 resistance holds, in case of recovery.
In the bigger picture, there are various ways to interpret price actions from 0.9304 high. But after all, firm break of 0.9304/5 is needed to confirm up trend resumption. Otherwise, range trading will continue with risk of deeper fall. And in that case, EUR/GBP could have a retest on 0.8303. But we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.
