Daily Pivots: (S1) 0.8898; (P) 0.8956; (R1) 0.9008; More…

Outlook in EUR/GBP remains unchanged. We’d continue to expect strong support from 0.8891 cluster support (50% retracement of 0.8472 to 0.9324 at 0.8856) to contained downside and bring rebound. On the upside, break of 0.9015 support turned resistance will turn bias back to the upside for retesting 0.9324 high. However, sustained break of 0.8891 will target 61.8% retracement of 0.8472 to 0.9324 at 0.8797 and below.

In the bigger picture, up trend from 0.6935 (2015 low) should be resuming. Sustained break of 0.9305 will confirm and target 0.9799 (2008 high) and then 61.8% projection of 0.6935 to 0.9305 from 0.8472 at 0.9937. In any case, medium term outlook will remain bullish as long as 0.8891 support holds, in case of deep pull back. However, sustained break of 0.8891 will dampen this bullish view and focus would be back on 0.8472 key support.

Daily Pivots: (S1) 0.8813; (P) 0.8836; (R1) 0.8865; More…

Intraday bias in EUR/GBP remains mildly on the upside with 0.8801 minor support intact. Whole fall from 0.9097 might be completed. Rebound from 0.8722 should target 38.2% retracement of 0.9097 to 0.8722 at 0.8865. Break will pave the way to 61.8% retracement at 0.8954 and above. On the downside, however, break of 0.8801 minor support will turn bias back to the downside for 0.8722 and possibly below.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Current development suggests that fall from 0.9303, as a down leg in the pattern, is still in progress. But in case of deeper fall, downside should be contained by 0.8116 cluster support, 50% retracement of 0.6935 (2015 low) to 0.9304 at 0.8120, to bring rebound. On the upside, break of 0.9097 will target 0.9304 resistance instead.

Daily Pivots: (S1) 0.8883; (P) 0.8905; (R1) 0.8924; More…

Intraday bias in EUR/GBP remains neutral at this point. Price actions from 0.8745 are viewed as a corrective pattern. As long as 61.8% retracement of 0.9305 to 0.8745 at 0.9091 holds, deeper fall is in favor. Below 0.8857 minor support will turn bias to the downside. Further break of 0.8745 will resume whole decline form 0.9305 and target 0.8303 key support level. Nonetheless, sustained break of 0.9091 will bring retest of 0.9305 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 another 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) 0.8935; (P) 0.8953; (R1) 0.8967; More…

No change in EUR/GBP’s outlook as fall from 0.9175 is in progress for 0.8864 support. Break should confirm completion of whole rebound from 0.8670. In this case, deeper fall would be seen back to 0.8670 low. On the upside, however, break of 0.9067 minor resistance will turn intraday bias back to the upside for 61.8% retracement of 0.9499 to 0.8670 at 0.9182 instead.

In the bigger picture, while the pull back from 0.9499 was 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) 0.8568; (P) 0.8575; (R1) 0.8583; More…

Range trading continues in EUR/GBP and intraday bias remains neutral first. Further rise is expected as long as 0.8504 support holds. On the upside, above 0.8592 will resume the rise form 0.8448 to 0.8668 resistance next. Firm break there will be a strong sign of near term bullish reversal at least On the downside, however, break of 0.8504 will turn bias back to the downside for retesting 0.8448 low instead.

In the bigger picture, price actions from 0.9499 (2020 high) are still seen as developing into a corrective pattern. Deeper fall could be seen as long as 0.8668 resistance holds, towards long term support at 0.8276. However, firm break of 0.8668 resistance would argue that a medium term bottom was already formed. Stronger rise would be seen to 0.8861 support turned resistance to confirm completion of the corrective pattern.

Daily Pivots: (S1) 0.8842; (P) 0.8889; (R1) 0.8932; More…

Intraday bias in EUR/GBP remains mildly on the upside for the moment. Rebound from 0.8786 short term bottom is targeting 55 day EMA (now at 0.8957). Sustained break will pave the way back to retest 0.9324 high. On the downside, however, firm break of 61.8% retracement of 0.8472 to 0.9324 at 0.8797 will target 0.8472 low.

In the bigger picture, the failure to sustain above 0.9305 (2017 high) suggests that consolidation from there is extending. Breach of 0.8472 cannot be ruled out but downside should be contained by 38.2% retracement of 0.6935 (2015 low) to 0.9305 at 0.8400. On the upside, firm break of 0.9327 will confirm up trend resumption.

Daily Pivots: (S1) 0.8670; (P) 0.8708; (R1) 0.8763; More…

Intraday bias in EUR./GBP stays neutral for the moment. Another rise is expected as long as 0.8449 minor support holds. Rebound from 0.8303 is seen as the second leg of the consolidation pattern from 0.9304. Above 0.8764 will target 61.8% retracement of 0.9304 to 0.8303 at 0.8922 and above. We’ll expect strong resistance above 0.8922 to limit upside and bring another fall. On the downside, below 0.8449 will turn bias to the downside for retesting 0.8303 first. Break there will extend the whole fall from 0.9304. In that case, we’ll look for bottoming signal again at around 0.8116.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. Deeper fall cannot be ruled out yet. But we’d expect strong support around 55 weeks EMA (now at 0.8243) to contain downside. Overall, the corrective pattern would take some time to complete before long term up trend resumes at a later stage. Break of 0.9304 will pave the way to 0.9799 (2008 high).

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Daily Pivots: (S1) 0.8416; (P) 0.8433; (R1) 0.8456; More…

EUR/GBP is staying in consolidation from 0.8386 temporary low and intraday bias remains neutral. Outlook is unchanged that corrective rise from 0.8276 should have completed at 0.8595, after rejection by 55 day EMA. Break of 0.8386 will target a test on 0.8276 low. Nevertheless, break of 0.8487 would turn bias to the upside for 0.8595 to extend the corrective rise from 0.8276.

In the bigger picture, decline from 0.9324 medium term top is till 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) 0.8976; (P) 0.9001; (R1) 0.9031; More…

EUR/GBP rises to as high as 0.9026 but it’s still limited below 0.9030 resistance. Intraday bias remains neutral at this point. Consolidation from 0.9030 might still extend with another fall. But even in that case, downside should be contained by 0.8854 support to bring rally resumption. On the upside, firm break of 61.8% retracement of 0.9305 to 0.8620 at 0.9043 will pave the way to retest 0.9305 key resistance. However, sustained break of 0.8854 will indicate near term reversal and turn outlook bearish.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). The corrective structure of the fall from 0.9305 to 0.8620 is raising the chance that rise from 0.8312 to 0.9305 is an impulsive move. But we’re not too confident on it yet. In any case, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

Daily Pivots: (S1) 0.8772; (P) 0.8808; (R1) 0.8830; More…

Range trading continues in EUR/GBP inside 0.8686/8928. Intraday bias remains neutral. Also, outlook stays mildly bearish with 0.8928 resistance intact. On the downside, firm break of 0.8686 will resume whole decline from 0.9305. As 61.8% retracement of 0.8312 to 0.9305 should then be taken out too, deeper decline would be seen to retest 0.8303/8312 support zone. Nonetheless, on the upside, break of 0.8928 will indicate near term reversal and turn outlook bullish for 0.9304 resistance.

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) 0.8931; (P) 0.8952; (R1) 0.8983; More…

Intraday bias in EUR/GBP stays neutral and consolidation from 0.8992 might extend. . Further rise is expected as long as 0.8872 resistance holds. But considering bearish divergence condition in 4 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 0.8825) 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.

Daily Pivots: (S1) 0.8630; (P) 0.8656; (R1) 0.8689; More…

EUR/GBP rises to as high as 0.8691 so far. The break of 0.8681 resistance dampens our bearish view. Instead, it suggests that, at least , consolidation pattern from 0.8472 is extending with another rising leg. Intraday bias is back on the upside for 0.8722 first. Break will target 0.8840 resistance. On the downside, break of 0.8624 minor support will turn bias back to the downside for 0.8472 low instead.

In the bigger picture, medium term decline from 0.9306 (2017 high) is seen as a corrective move. Current development suggests that it’s extending through 0.8312 support towards 50% retracement of 0.6935 (2015 low) to 0.9306 at 0.8121. We’ll look for strong support around there to contain downside to complete the correction. But for now, break of 0.8681 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

Daily Pivots: (S1) 0.8562; (P) 0.8588; (R1) 0.8604; More…

Intraday bias in EUR/GBP stays neutral and outlook is unchanged. Price actions from 0.8502 are a consolidation pattern. Above 0.8629 would bring stronger recovery, but upside should be limited 0.8700 to bring larger decline resumption. On the downside, below 0.8522 will bring retest of 0.8491 support.

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). Fall from 0.8977 is seen as the third leg. As long as 0.8700 resistance holds, further decline is still expected. Break of 0.8491 will resume the fall towards 0.8201 (2022 low). Nevertheless, firm break of 0.8700 will now be a sign of bullish reversal.

Daily Pivots: (S1) 0.8697; (P) 0.8741; (R1) 0.8768; More…

EUR/GBP is still bounded in consolidation below 0.8786 and intraday bias remains neutral for the moment. Another fall could be seen as the consolidation extends. But downside should be contained by 38.2% retracement of 0.8402 to 0.8786 at 38.2% retracement of 0.8402 to 0.8786 at 0.8639 and bring another rise. Above 0.8786 will target 0.8851 resistance and above. However, price actions from 0.8303 are seen as the second leg of the corrective pattern from 0.9304. Hence, we’d expect strong resistance from 100% projection of 0.8303 to 0.8851 from 0.8402 at 0.8950 to limit upside.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. Deeper fall cannot be ruled out yet. 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. Overall, the corrective pattern would take some time to complete before long term up trend resumes at a later stage. Break of 0.9304 will pave the way to 0.9799 (2008 high).

Daily Pivots: (S1) 0.8933; (P) 0.8962; (R1) 0.8984; More…

Range trading continues in EUR/GBP and intraday bias remains neural first. Further rise is in favor with 0.8866 minor support intact. On the upside, break of 0.9054 will resume the rebound from 0.8670 and target 61.8% retracement of 0.9499 to 0.8670 at 0.9182. However, firm break of 0.8866 will indicate completion of the rise from 0.8670. Intraday bias will be turned back to the downside for retesting 0.8670 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) 0.8922; (P) 0.8969; (R1) 0.9015; More…

Intraday bias in EUR/GPB remains neutral first and consolidation from 0.9054 might extend. But further rally is expected as long as 0.8866 support holds. Break of 0.9054 will resume the rebound from 0.8670 to 61.8% retracement of 0.9499 to 0.8670 at 0.9182. However, firm break of 0.8866 will indicate completion of the rise from 0.8670. Intraday bias will be turned back to the downside for retesting 0.8670 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.

EUR/GBP’s rebound was limited at 0.8635 last week and quickly reversed. The development keeps near term outlook bearish. Initial bias stays neutral this week first. Break of 0.8517 will resume the fall from 0.8977 to 161.8% projection of 0.8977 to 0.8717 from 0.8874 at 0.8453. Nevertheless, decisive break of 0.8635 will confirm short term bottoming, and bring stronger rebound to 55 D EMA (now at 0.8666) and above.

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 would 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 0.8717 support turned resistance holds.

In the long term picture, long term range pattern is extending. But rise from 0.6935 (2015 low) is expected to extend at a later stage, to 0.9799 (2009 high).

EUR/GBP edged higher to 0.8786 last week but pulled back since then. Downside is contained above 38.2% retracement of 0.8402 to 0.8786 at 0.8639 so far and outlook is unchanged. We’re treating rise from 0.8402 as the third leg of the whole pattern from 0.8303. Another rally is still expected in near term.

Initial bias remains neutral this week for consolidations below 0.8786. Downside should be contained by 0.8693 and bring another rally. Above 0.8786 will target 0.8851 resistance and above. Though, price actions from 0.8303 are seen as the second leg of the corrective pattern from 0.9304. Hence, we’d expect strong resistance from 100% projection of 0.8303 to 0.8851 from 0.8402 at 0.8950 to limit upside. On the downside, sustained trading below 0.8693 will bring deeper fall to 61.8% retracement 0.8549 and below.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. Deeper fall cannot be ruled out yet. 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. Overall, the corrective pattern would take some time to complete before long term up trend resumes at a later stage. Break of 0.9304 will pave the way to 0.9799 (2008 high).

In the long term picture, firstly, price action from 0.9799 is seen as a long term corrective pattern and should have completed at 0.6935. Secondly, rise from 0.6935 is likely resuming up trend from 0.5680 (2000 low). Thirdly, this is supported by the impulsive structure of the rise from 0.6935 to 0.9304. Hence, after the consolidation from 0.9304 completes, we’d expect another medium term up trend to target 0.9799 high and above.

EUR/GBP edged lower to 0.8502 last week but rebounded again. Initial bias remains neutral this week first. on the downside, break of 0.8502 will resume the choppy fall from 0.8718 to retest 0.8470 low. On the upside, though, break of 0.8616 resistance will indicate completion of the correction from 0.8718, and turn bias back to the upside.

In the bigger picture, price actions from 0.9499 are still seen 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 medium term outlook bearish.

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). Break of 0.9799 (2008 high) is expected down the road, as long as 0.8276 support holds.

Daily Pivots: (S1) 0.8828; (P) 0.8844; (R1) 0.8862; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the upside, firm break of 0.8864 will extend the rebound from 0.8717 to 0.8924 resistance. Further break there should confirm completion of the choppy decline from 0.8977, and should resume larger rise from 0.8545 through 0.8977 high. However, decisive break of 0.8717 support will resume the decline from 0.8977 instead.

In the bigger picture, outlook remains rather mixed for now, except that price actions from 0.9267 (2022 high) are part of the long term range pattern from 0.9499 (2020 high). With 0.8720 support intact, rise from 0.8545 is in favor to continue through 0.8977. However, firm break of 0.8720 will argue that such rebound has completed, and open up deeper fall through this support level.