Daily Pivots: (S1) 0.8876; (P) 0.8904; (R1) 0.8935; More…

Intraday bias in EUR/GBP remains on the upside for the momentum. The rise from 0.8620 is in progress for 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). Decisive break should confirm completion of whole decline from 0.9305 and pave the way to retest this high. For now, near term outlook will remain cautiously bullish as long as 0.8815 support holds, in case of retreat.

In the bigger picture, EUR/GBP is staying in 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 from 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) 0.8443; (P) 0.8471; (R1) 0.8500; More…

Intraday bias in EUR/GBP stays neutral at this point. Further decline is expected as long as 0.8552 minor resistance holds. Rebound from 0.8201 should have completed at 0.8720, after rejection by 0.8697 medium term fibonacci level. Below 0.8401 ill target a test on 0.8201/48 support zone next.

In the bigger picture, rejection by 38.2% retracement of 0.9499 to 0.8201 at 0.8697 argues that rebound from 0.8201 is merely a corrective move. That is, down trend from 0.9499 (2020 high) is now over. Sustained break of 0.8201 will resume such decline and target 61.8% retracement of 0.6935 to 0.9499 at 0.7917. This will now remain the favored case as long as 0.8720 resistance holds.

Daily Pivots: (S1) 0.8531; (P) 0.8551; (R1) 0.8586; More…

EUR/GBP lost momentum after hitting 0.8590 and intraday bias is turn neutral first. Some consolidations would be seen but outlook will stay bullish as long as 0.8465 resistance turned support holds. On the upside, break of 0.8590 will resume the rise from 0.8210 medium term bottom to 0.8697 medium term fibonacci level next.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

Daily Pivots: (S1) 0.8495; (P) 0.8519; (R1) 0.8535; More…

Intraday bias in EUR/GBP remains on the downside at this point. Firm break of 0.8491/7 support zone will confirm larger down trend resumption. Next target is 0.8376 projection level next. On the upside though, above 0.8540 minor resistance will delay the bearish case and turn intraday bias neutral first.

In the bigger picture, outlook remains bearish as EUR/GBP is capped below medium term falling trendline. That is, down trend from 0.9267 (2022 high) is still in progress. Firm break of 0.8491/7 will target 100% projection of 0.8764 to 0.8497 from 0.8643 at 0.8376.

Daily Pivots: (S1) 0.8828; (P) 0.8851; (R1) 0.8877; More…

Intraday bias in EUR/GBP remains neutral for the moment. Further rally is expected as long as 0.8720 support holds. On the upside, break of 0.8977 will resume whole rebound from 0.8545 towards 0.9267 high. On the downside, however, break of 0.8270 will turn near term outlook bearish again.

In the bigger picture, the notable support from 55 day EMA (now at 0.8780) retains near term bullishness. Break of 0.8896 should target 0.9267 (2022 high) and possibly above, to resume whole up trend from 0.8201 (2022 low). However, break of 0.8270 support and sustained trading below 55 day EMA will set the stage for 0.8545 and below.

Daily Pivots: (S1) 0.8563; (P) 0.8585; (R1) 0.8619; More…

Outlook in EUR/GBP is unchanged and intraday bias remains neutral. On the downside, below 0.8543 will target a test on 0.8502 low. Decisive break there will resume larger decline from 0.8977. On the upside, above 0.8618 minor resistance will turn bias back to the upside for 0.8700, and possibly further to 0.8717 key support turned resistance.

In the bigger picture, the down trend from 0.9267 (2022 high) is seen as part of the long term range pattern from 0.9499 (2020 high). Firm break of 0.8717 support turned resistance will argue that it has completed with three waves down to 0.8502. Further break of 0.8977 will bring retest of 0.9267 high. Nevertheless, rejection by 0.8717, followed by break of 0.8502 will resume the decline towards 0.8201 (2022 low).

Daily Pivots: (S1) 0.8367; (P) 0.8400; (R1) 0.8419; More…

Break of 0.8380 minor support argue that rebound from 0.8248 has completed at 0.8456 already. Intraday bias is back on the downside for 0.8248 support. On the upside, above 0.8465 will turn focus back to 0.8511 resistance intact. Further break of 0.8511 will reaffirm that 0.8201 is a medium term bottom, and target 0.8697 medium term fibonacci level next.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

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) 0.8481; (P) 0.8501; (R1) 0.8512; More…

EUR/GBP’s strong break of 0.8491 support confirms resumption of larger down trend. Intraday bias is back on the downside for 0.8376 projection level next. On the upside, break of 0.8539 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, down trend from 0.9267 (2022 high is in progress). Next target is 100% projection of 0.8764 to 0.8497 from 0.8643 at 0.8376. Sustained break there will target 161.8% projection at 0.8211 next. For now, outlook will remain bearish as long as 0.8643 resistance holds, even in case of stronger rebound.

Daily Pivots: (S1) 0.8272; (P) 0.8336; (R1) 0.8376; More…

Intraday bias in EUR/GBP remains on the downside for 0.8276 low first. Decisive break there resume larger decline from 0.9324. Next downside target will be 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8339 minor resistance will turn bias neutral and bring consolidations first, before staging another fall..

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8786 support turned resistance holds, further fall is expected to 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.

Daily Pivots: (S1) 0.8456; (P) 0.8473; (R1) 0.8486; More…

EUR/GBP’s decline accelerates to as low as 0.8389 so far today. The break of 0.8402 should confirm completion of the consolidation pattern from 0.8303 at 0.8786. And, the correction from 0.9304 should have started the third leg. Intraday bias remains on the downside for 0.8303 support and below. At this point, we’d expect strong support from 0.8116/20 cluster support to complete the correction from 0.9304. But for now, break of 0.8511 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. Such decline is likely ready to resume and should make a new low below 0.8303. At this point, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside. Rise from 0.6935 (2015 low) will resume at a later stage to 0.9799 (2008 high). However, sustained break of 0.8116 could bring deeper decline to next key support level at 0.7564 before the correction completes.

Daily Pivots: (S1) 0.8729; (P) 0.8784; (R1) 0.8821; More…

Intraday bias in EUR/GBP remains neutral at this point, with focus on 61.8% retracement of 0.8282 to 0.9499 at 0.8747. Strong support is still expected and break of 0.8987 minor resistance will turn bias to the upside for retesting 0.9499 high. However, sustained break of 0.8747 will dampen near term bullishness and bring deeper fall back to 0.8276/82 key support zone.

In the bigger picture, up trend from 0.6935 (2015 ) should still be in progress. 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). In any case, medium term outlook will stay bullish as long as 0.8276 support holds, even in case of deep pull back.

Daily Pivots: (S1) 0.8800; (P) 0.8831; (R1) 0.8879; More…

At this point, intraday bias in EUR/GBP remains neutral as it’s bounded in range below 0.8865. On the upside, decisive break of 0.8851/65 resistance zone will pave the way to retest 0.9304 high. In case of another fall, downside should be contained by 0.8639 support to bring rebound. However, break of 0.8639 support will now indicate near term topping and bring deeper pull back 0.8529 resistance turned support and below.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. The leg from 0.9304 should have completed after testing 0.8332 structural support. But it’s too early to say that larger rise from 0.6935 is resuming. Rejection from 0.9304 will extend the consolidation with another falling leg. Meanwhile, firm break of 0.9304 will target 0.9799 (2008 high). In case of another decline, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside and bring rebound.

Daily Pivots: (S1) 0.8649; (P) 0.8672; (R1) 0.8695; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the upside, firm break of 0.8720 resistance will indicate resumption of whole rise from 0.8201. Intraday bias will be back on the upside for 100% projection of 0.8201 to 0.8720 from 0.8338 at 0.8857. On the downside, however, break of 0.8565 support will indicate rejection by 0.8720 and turn bias back to the downside.

In the bigger picture, focus is back on 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will argue that rise from 0.8201 is a medium term up trend, rather than a correction. Next target is 61.8% retracement at 0.9003. Rejection by 0.8697 again will maintain medium term bearishness, for extending the down trend from 0.9499 (2020 high) at a later stage.

Daily Pivots: (S1) 0.8781; (P) 0.8812; (R1) 0.8853; More…

Intraday bias in EUR/GBP remains neutral for consolidation above 0.8688 temporary low. Deeper fall is expected as long as 0.8866 resistance holds. Below 0.8688 will target 61.8% projection of 0.9305 to 0.8745 from 0.8981 at 0.8468 first and then 100% projection at 0.8151 next. However, break of 0.8866 resistance will indicate near term reversal and turn bias back to the upside for 0.8981 resistance instead.

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.

Daily Pivots: (S1) 0.8521; (P) 0.8571; (R1) 0.8619; More….

Intraday bias in EUR/GBP remains on the upside at this point. Further rise should be seen to 0.8643 resistance. Decisive break there will strengthen the case of larger bullish reversal and target 0.8764 key resistance next. On the downside, though, below 0.8550 minor support 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. However, firm break of 0.8643 will indicate that such down trend has completed, and turn outlook bullish.

EUR/GBP spiked higher to 0.9267 last week but dropped sharply from there. As downside is contained above 0.8720 resistance turned support, there is no confirmation of reversal yet. Initial bias stays neutral this week. Break of 0.9065 minor resistance will bring retest of 0.9267. However, firm break of 0.8720 will argue that whole rise from 0.8201 has completed, and target 55 day EMA (now at 0.8631) first.

In the bigger picture, as long as 0.8720 resistance turned support holds, rise from 0.8201 is seen as resuming larger up trend from 0.6935 (2015 low). Break of 0.9499 (2020 high) should be seen at a later stage. However, firm break of 0.8720 will argue that sideway pattern from 0.9499 is extending with another falling leg instead.

In the long term picture, the fall form 0.9499 (2020 high), as a correction to rise from 0.6935 (2015 low), could have completed 0.8201. It’s still early to judge that up trend is ready to resume. But in that case, further rise would be seen to 0.9499 first, and then 0.9799 (2009 high).

Daily Pivots: (S1) 0.8833; (P) 0.8861; (R1) 0.8901; More…

EUR/GBP’s rally continues after brief consolidation and reaches as high as 0.8902 so far. Intraday bias remains on the upside. Further rise should be seen to 0.9101 key resistance next. On the downside, break of 0.8825 minor support will turn bias neutral and bring consolidations again. But outlook will remain bullish as long as 0.8681 resistance turned support holds.

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 0.8511). 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.

Daily Pivots: (S1) 0.8578; (P) 0.8616; (R1) 0.8641; More…

EUR/GBP is staying in consolidation from 0.8472 and intraday bias remains neutral. In case of another rise, upside should be limited by 0.8722 resistance. On the downside, firm break of 0.8472 will resume larger down trend for 0.8416 long term projection next. On the upside, though, sustained break of 0.8722 will suggest near term reversal and bring stronger rise back to 0.8840 resistance and above.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Current fall from 0.9305 (2017 high) is a falling leg inside the pattern. Such decline could extend to 100% projection of 0.9305 to 0.8620 from 0.9101 at 0.8416 and possibly below. But for now, we’d expect strong support around 0.8312 support to contain downside and bring rebound.

Daily Pivots: (S1) 0.8491; (P) 0.8526; (R1) 0.8548; More…

Intraday bias in EUR/GBP remains on the downside for the moment. Current decline from 0.8977 is in progress for 61.8% projection of 0.8874 to 0.8517 from 0.8650 at 0.8436. On the upside, above 0.8583 minor resistance will turn intraday bias neutral first. But near term outlook will remain bearish as long as 0.8657 resistance holds, in case of recovery.

In the bigger picture, the down trend from 0.9267 (2022 high) is still in progress. It’s seen as part of the long term range pattern from 0.9499 (2020 high). Deeper fall could be seen towards 0.8201 (2022 low). But strong support should be seen from there to bring reversal. This will now remain the favored case as long as 0.8657 resistance holds.