Daily Pivots: (S1) 0.8961; (P) 0.9005; (R1) 0.9076; More…

Outlook in EUR/GBP is unchanged and intraday bias stays neutral first. Overall, choppy rise from 0.8670 is in favor to continue as long as 0.8861 support holds. On the upside, decisive break of 0.9291 will target 0.9499 high. However, break of 0.8861 will bring deeper fall back to 0.8670 support.

In the bigger picture, at this point, we’re seeing the price actions from 0.9499 as developing into a corrective pattern. That is, up trend from 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds. Decisive break of 0.9499 will target 0.9799 (2008 high).

Daily Pivots: (S1) 0.8863; (P) 0.8922; (R1) 0.8961; More…

Focus is now on 0.8866 support in EUR/GBP. Decisive break will confirm completion of corrective rise from 0.8670. Further fall should be seen to this support to extend the pattern from 0.9499. On the upside, though, break of 0.9068 resistance will turn bias back to the upside for 0.9291 resistance.

In the bigger picture, at this point, we’re seeing the price actions from 0.9499 as developing into a corrective pattern. That is, up trend from 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds. Decisive break of 0.9499 will target 0.9799 (2008 high).

Daily Pivots: (S1) 0.9214; (P) 0.9253; (R1) 0.9296; More…

EUR/GBP lost upside momentum after hitting 0.9291 and intraday bias is turned neutral for some consolidations. Downside should be contained above 0.9067 minor support to bring another rally. On the upside, break of 0.9291 will resume the whole rise from 0.8670. Next target is 100% projection of 0.8670 to 0.9175 from 0.8866 at 0.9371 first.

In the bigger picture, at this point, we’re still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds. Decisive break of 0.9499 will target 0.9799 (2008 high).

Daily Pivots: (S1) 0.8349; (P) 0.8384; (R1) 0.8407; More…

Intraday bias in EUR/GBP remains neutral at this point. On the upside, above 0.8434 will target 0.8476 structural resistance first. Firm break there will carry larger bullish implication and target 0.8598 resistance next. On the downside, break of 0.8315 minor support will retain near term bearishness, and bring retest of 0.8201 low.

In the bigger picture, the down trend from 0.9499 is expected to continue as long as 0.8476 resistance holds. Sustained trading below 0.8276 support will argue that the whole up trend from 0.6935 (2015 low) has reversed. Deeper fall should be seen to 61.8% retracement of 0.6935 to 0.9499 at 0.7917 next. However, firm break of 0.8476 will indicate medium term bottoming at least. Focus will be back on 55 week EMA (now at 0.8534) for more evidence of bullish reversal.

EUR/GBP’s strong rebound last week confirms short term bottoming at 0.8670. Initial bias stays on the upside this week for 38.2% retracement of 0.9499 to 0.8670 at 0.8987. Firm break there should also indicate completion of whole fall from 0.9499. Further rally should be seen to 61.8% retracement at 0.9182 and above. On the downside, though, break of 0.8825 minor support will turn bias to the downside for retesting 0.8670 instead.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The up trend from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

In the long term picture, rise from 0.6935 (2015 low) is still in progress. It could be resuming long term up trend from 0.5680 (2000 low). Decisive break of 0.9799 will target 100% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

EUR/GBP stayed in consolidation from 0.8672 last week and outlook is unchanged. Initial bias remains neutral this week for more sideway trading. On the upside, break of 0.8863 will confirm short term bottoming at 0.8670. Further rise should be seen to 38.2% retracement of 0.9499 to 0.8670 at 0.8987. On the downside, however, break of 0.8670 will resume the fall from 0.9499 to 0.8276/82 key support zone.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The up trend from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

In the long term picture, rise from 0.6935 (2015 low) is still in progress. It could be resuming long term up trend from 0.5680 (2000 low). Decisive break of 0.9799 will target 100% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

EUR/GBP’s rally resumed by edging higher to 0.8992 last week. But quickly lost momentum again as seen in 4 hour MACD. For this week, further rise is expected as long as 0.8872 resistance holds. But considering bearish divergence condition in4 hour MACD, we’d look for topping signal as it approaches 0.9101 key resistance. On the downside, break of 0.8872 will indicate short term topping. Deeper pull back could be seen to 55 day EMA (now at 0.8810) first.

In the bigger picture, medium term decline from 0.9305 (2017 high) is seen as a corrective move. No change in this view. Current development argues that it might have completed with three waves down to 0.8472, just ahead of 38.2% retracement of 0.6935 (2015 low) to 0.9306 at 0.8400, after hitting 55 month EMA (now at 0.8527). Decisive break of 0.9101 resistance will confirm this bullish case. Nevertheless, as EUR/GBP is still staying inside long term falling channel, correction from 0.9305 could still extend to 0.8400 fibonacci level before completion, if upside is rejected by 0.9101.

In the long term picture, we’re holding on to the view that rise from 0.6935 (2015 low) is resuming the up trend from 0.5680 (2000 low). As long as 38.2% retracement of 0.6935 to 0.9306 at 0.8400 holds, further rise should be seen through 0.9305 to 0.9799 and above down the road.

Daily Pivots: (S1) 0.8701; (P) 0.8738; (R1) 0.8766; More…

EUR/GBP is staying in consolidation above 0.8690 and intraday bias remains neutral. Outlook remains unchanged too. As long as 0.8800 minor resistance holds, another fall is expected. On the downside, break of 0.8690 will extend whole fall from 0.9098 to 0.8620 support first. Break will target 100% projection of 0.9098 to 0.8722 from 0.8939 at 0.8563 next. However, break of 0.8800 will turn focus back to 0.8939 resistance instead.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Medium term fall from 0.9305 is possibly in progress and could extend through 0.8620. On the upside, break of 0.8939 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain cautiously bearish even in case of rebound.

Daily Pivots: (S1) 0.8875; (P) 0.8908; (R1) 0.8935; More…

EUR/GBP’s strong recovery suggests that fall from 0.9000 was just a corrective retreat, and has completed at 0.8880. Intraday bias is turned neutral first. On the upside, break of 0.9000 will resume the rebound from 0.8670 to 61.8% retracement of 0.9499 to 0.8670 at 0.9182 and above. On the downside, though, below 0.8880 will suggest that the rebound from 0.8670 has completed, and turn bias back to the downside for retesting this low.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The up trend from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

While upside momentum was unconvincing, EUR/GBP extended the rebound from 0.8620 last week and hit as high as 0.8844. Initial bias remains on the upside this week for 0.8967 cluster resistance next (50% retracement of 0.9305 to 0.8620 at 0.8963). Firm break there will confirm neat term reversal. On the downside, below 0.8781 minor support will turn focus back to 0.8679 support. Break there will suggests that larger decline from 0.9305 is resuming.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

In the long term picture, we’re holding on to the view that rise from 0.6935 (2015 low) is resuming the up trend from 0.5680 (2000 low). Hence, after the consolidation from 0.9304 completes, we’d expect another medium term up trend through 0.9799 to 100% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

Daily Pivots: (S1) 0.8602; (P) 0.8621; (R1) 0.8644; More….

EUR/GBP’s rise from 0.8548 resumes today and the break of 0.8648 support turned resistance argues that fall from 0.8764 might have completed already. Intraday bias is now on the upside for stronger rebound towards 0.8764 resistance. On the downside, though, break of 0.8597 minor support will bring retest of 0.8548 instead.

In the bigger picture, current development suggests that down trend from 0.9267 (2022 high) is still in progress. This decline is seen as the third leg of the pattern from 0.9499 (2020 high). Break of 0.8201 will target 100% projection of 0.9499 to 0.8201 from 0.9267 at 0.7969. In any case, outlook will stay bearish as long as 0.8764 resistance holds.

EUR/GBP rise from 0.8472 extended higher last week with diminishing upside momentum. But there is no clear sign of topping yet. Further rise is expected this week as long as 0.8829 support holds, for 0.9101 key resistance. Considering bearish divergence condition in 4 hour MACD, we’d be cautious on strong resistance from there to limit upside to bring pullback. On the downside, though, break of 0.8829 support will indicate short term topping and bring lengthier consolidation before staging another rise.

In the bigger picture, medium term decline from 0.9305 (2017 high) is seen as a corrective move. No change in this view. Current development argues that it might have completed with three waves down to 0.8472, just ahead of 38.2% retracement of 0.6935 (2015 low) to 0.9306 at 0.8400, after hitting 55 month EMA (now at 0.8527). Decisive break of 0.9101 resistance will confirm this bullish case. Nevertheless, as EUR/GBP is still staying inside long term falling channel, correction from 0.9305 could still extend to 0.8400 fibonacci level before completion, if upside is rejected by 0.9101.

In the long term picture, we’re holding on to the view that rise from 0.6935 (2015 low) is resuming the up trend from 0.5680 (2000 low). As long as 50% retracement of 0.6935 to 0.9304 at 0.8120 holds, further rise should be seen through 0.9305 to 0.9799 and above down the road.

Daily Pivots: (S1) 0.9029; (P) 0.9184; (R1) 0.9371; More…

Intraday bias in EUR/GBP remains neutral for consolidation below 0.9499. Deeper pull back cannot be ruled out. But downside should be contained by 61.8% retracement of 0.8282 to 0.9499 at 0.8747 to bring rally resumption. On the upside, break of 0.9499 will resume larger up trend.

In the bigger picture, the break of 0.9324 (2016 high) confirms resumption of up trend from 0.6935 (2015 low). Next target is 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. Initial resistance could be seen around there as it’s close to 0.9799 (2008 high). But in any case, medium term outlook will stay bullish as long as 0.8276 support holds, even in case of deep pull back.

EUR/GBP dipped to 0.8451 last week but quickly recovered. Initial bias is neutral this week first. On the downside, below 0.8451 will bring retest of 0.8276 low. On the upside, break of 0.8591 will extend the rebound form 0.8276 to 38.2% retracement of 0.9324 to 0.8276 at 0.8676.

In the bigger picture, rise from 0.6935 (2015 low) should have completed at 0.9324 already. As long as 0.8786 support turned resistance holds, further decline is expected. Next target is 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and turn focus back to this high.

In the long term picture, fall form 0.9324 is currently seen as the third leg of the whole pattern from 0.9799 (2008 high). It’s a bit early to judge how fall the decline would extend to and whether 0.6935 would be taken out. We’ll pay attention to the structure of the fall from 0.9324 and corresponding downside momentum to made an assessment later.

EUR/GBP’s decline from 0.9324 resumed last week and accelerated to as low as 0.8575. As a temporary low was formed there, initial bias stays neutral this week first. Recovery should be limited by 0.8811 minor resistance to bring decline resumption. On the downside, break of 0.8575 will target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 0.8472 key support.

In the bigger picture, we’re now seeing 0.9324 as a medium term top on bearish divergence condition in weekly MACD. Price actions from there should develop into a corrective pattern. Deeper fall should be seen back to 38.2% retracement of 0.6935 to 0.9324 at 0.8411 but strong support should be seen there, at least on first attempt, to bring rebound. On the upside, break of 0.9324 is needed to confirm up trend resumption. Otherwise, risk will stay on the downside even in case of strong rebound.

In the long term picture, rise from 0.6935 (2015 low) could either be resuming the up trend from 0.5680 (2000 low). Or it’s just the second leg of the consolidation pattern from 0.9799 (2008 high). Eventual structure of the pull back from 0.9324 should reveal which case it should be.

Daily Pivots: (S1) 0.8966; (P) 0.9004; (R1) 0.9058; More…

EUR/GBP’s break of 0.9054 resistance suggests resumption of whole rebound from 0.8670. Intraday bias is back on the upside for 61.8% retracement of 0.9499 to 0.8670 at 0.9182. Sustained break there will pave the way to retest 0.9499 high. On the downside, break of 0.8938 will dampen near term bullishness and turn bias back to the downside for 0.8864 support.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The up trend from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

Daily Pivots: (S1) 0.8771; (P) 0.8796; (R1) 0.8834; More…

EUR/GBP edged higher to 0.8830 today but quickly retreated. Intraday bias stays neutral first. On the upside, above 0.8830 will resume the rebound from 0.8620 and target 0.8967 cluster resistance next (50% retracement of 0.9305 to 0.8620 at 0.8963). Firm break there will confirm neat term reversal. On the downside, below 0.8760 minor support will turn focus back to 0.8679 support. Break there will suggests that larger decline from 0.9305 is resuming.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

Daily Pivots: (S1) 0.8550; (P) 0.8588; (R1) 0.8609; More…

EUR/GBP is staying in range of 0.8537/8729 and intraday bias remains neutral first. On the upside, break of 0.8279 will resume the rebound from 0.8537 and target 55 day EMA (now at 0.8790). However, firm break of 0.8537 will resume the decline towards 0.8276 key support.

In the bigger picture, we’re seeing the price actions from 0.9499 as developing into a corrective pattern. That is, up trend from 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds. However, firm break of 0.8276 support will suggest that rise from 0.6935 has completed and turn outlook bearish.

Daily Pivots: (S1) 0.8551; (P) 0.8571; (R1) 0.8606; More…

Intraday bias in EUR/GBP stays neutral and outlook is unchanged. On the upside, above 0.8638 minor resistance will turn bias to the upside for 0.8729 resistance. Firm break there should indicate short term bullish reversal. On the downside, sustained break of 0.8537 will resume the whole pattern from 0.9499, towards 0.8276 key support.

In the bigger picture, we’re seeing the price actions from 0.9499 as developing into a corrective pattern. That is, up trend from 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds. However, firm break of 0.8276 support will suggest that rise from 0.6935 has completed and turn outlook bearish.

Daily Pivots: (S1) 0.8911; (P) 0.8935; (R1) 0.8977; More…

EUR/GBP is losing some upside momentum as seen in 4 hour MACD. But with 0.8825 minor support intact, further rise is still in favor. Firm break of 38.2% retracement of 0.9499 to 0.8670 at 0.8987 should indicate completion of whole fall from 0.9499. Further rally should be seen to 61.8% retracement at 0.9182 and above. On the downside, though, break of 0.8825 minor support will turn bias to the downside for retesting 0.8670 instead.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The up trend from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.