Daily Pivots: (S1) 0.8562; (P) 0.8584; (R1) 0.8600; More…

Intraday bias in EUR/GBP remains neutral at this point. On the downside, below 0.8559 will target a test on 0.8470 low. On the upside, though, break of 0.8670 resistance will turn bias to the upside for 0.8718 resistance. Break there will resume the rebound from 0.8470 to 38.2% retracement of 0.9291 to 0.8470 at 0.8784.

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.

Daily Pivots: (S1) 0.8450; (P) 0.8479; (R1) 0.8497; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the downside, below 0.8404 will turn focus back to 0.8303 low. Break there will extend the whole corrective pattern from 0.9304. In that case, we’d expect strong support from 0.8116 to contain downside and bring rebound. On the upside, above 0.8529 will resume the rebound from 0.8312 towards 0.8786 resistance. Overall, there is no change in the view that price action from 0.9304 are forming a corrective pattern. Such pattern would extend in near term.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. In case of deeper fall, 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) 0.8496; (P) 0.8524; (R1) 0.8545; More…

Intraday bias in EUR/GBP remains neutral for the moment and near term outlook stays bearish. Fall from 0.8551 is seen as the third leg of the corrective pattern from 0.9304. Break of 0.8469 support will turn bias to the downside for 0.8303 low. Break will target 0.8116 key cluster support level. On the upside, however, break of 0.8643 resistance will now dampen this bearish case and turn bias to the upside for 0.8851 resistance instead.

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).

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Daily Pivots: (S1) 0.8420; (P) 0.8452; (R1) 0.8472; More…

EUR/GBP is staying in range of 0.8404/8529 and intraday bias remains neutral. On the downside, below 0.8404 will turn focus back to 0.8303 low. Break there will extend the whole corrective pattern from 0.9304. In that case, we’d expect strong support from 0.8116 to contain downside and bring rebound. On the upside, above 0.8529 will resume the rebound from 0.8312 towards 0.8786 resistance. Overall, there is no change in the view that price action from 0.9304 are forming a corrective pattern. Such pattern would extend in near term.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. In case of deeper fall, 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) 0.8741; (P) 0.8762; (R1) 0.8791; More…

Break of 0.8745 suggests that fall from 0.9305 is resuming. Intraday bias is back on the downside for 61.8% projection of 0.9305 to 0.8745 from 0.9032 at 0.8686 first. Break will target 100% projection at 0.8472. On the upside, above 0.8826 minor resistance will turn intraday bias neutral first. But near term outlook will remain bearish as long as 0.9032 resistance holds.

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) 0.8896; (P) 0.8929; (R1) 0.8965; More…

EUR/GBP is still bounded in range of 0.8732/9032 and intraday bias remains neutral. With 0.9032 resistance intact, deeper decline is mildly in favor in the cross. Break of 0.8732 will resume the fall from 0.9305 and target 0.8303 key support level. However, on the upside, decisive break of 0.9032 will confirm completion of the decline from 0.9305. In such case, intraday bias will be turned back to the upside for retesting 0.9305 key 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) 0.8746; (P) 0.8772; (R1) 0.8799; More…

With 0.8884 minor resistance intact, deeper decline is expected in EUR/GBP for 61.8% retracement of 0.8312 to 0.9305 at 0.8691 and below. Fall from 0.9305 is seen as the third leg of consolidation pattern from 0.9304. We’ll look for bottoming signal again at it approaches 0.8303 support. Meanwhile, break of 0.8884 will indicate short term bottoming and turn intraday bias back to the upside for 55 day EMA (now at 0.8951).

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. It’s still in progress with fall from 0.9305 as the third leg. Break of 0.8303 could be seen. 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. Whole up trend from 0.6935 is expected to resume after consolidation from 0.9304 completes.

EUR/GBP’s rally extended to as high as 0.9118 last week and there is no change in the bullish outlook. Initial bias stays on the upside this week as rise from 0.8312 would target a test on 0.9304 high. At this point, there is no clear sign of up trend resumption yet. Hence, we’ll be cautious on strong resistance from 0.9304 to limit upside and bring another fall. On the downside, considering bearish divergence condition in 4 hour MACD, break of 0.9007 support will indicate short term topping. Intraday bias will then be turned back to the downside for 0.8742/8948 support zone.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. It’s uncertain whether it is finished yet. But in case of another fall, 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. Whole up trend from 0.6935 is expected to resume after consolidation from 0.9304 completes.

In the long term picture, firstly, price action from 0.9799 (2008 high) is seen as a long term corrective pattern and should have completed at 0.6935 (2015 low). 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 correction from 0.9304 completes, we’d expect another medium term up trend to target 0.9799 high and above.

Daily Pivots: (S1) 0.8439; (P) 0.8478; (R1) 0.8549; More…

EUR/GBP’s strong rebound and break of 0.8487 dampened our bearish view. Corrective rebound from 0.8276 is possibly still in progress. Intraday bias is back on the upside for 0.8595 resistance first. Break there will target 38.2% retracement of 0.9324 to 0.8276 at 0.8676. On the downside, break of 0.8386 will bring retest of 0.8276 low instead.

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) 0.8527; (P) 0.8541; (R1) 0.8553; More…

Intraday bias in EUR/GBP is turned neutral with current recovery. Some consolidations would be seen above 0.8529 temporary low. But further decline is expected as long as 0.8582 resistance holds. Below 0.8529 will target 0.8491/7 support zone.

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) 0.9072; (P) 0.9084; (R1) 0.9099; More

With 0.9007 minor support intact, further rise is still expected in EUR/GBP. Current rise from 0.8312 is expected to target a test on 0.9304 high. At this point, there is no clear sign of up trend resumption yet. Hence, we’ll be cautious on strong resistance from 0.9304 to limit upside and bring another fall. On the downside, considering bearish divergence condition in 4 hour MACD, break of 0.9007 support will indicate short term topping. Intraday bias will then be turned back to the downside for 0.8742/8948 support zone.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. It’s uncertain whether it is finished yet. But in case of another fall, 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. Whole up trend from 0.6935 is expected to resume after consolidation from 0.9304 completes.

Daily Pivots: (S1) 0.8740; (P) 0.8822; (R1) 0.8872; More

Intraday bias in EUR/GBP remains on the downside for 61.8% retracement of 0.8312 to 0.9305 at 0.8691 and below. Fall from 0.9305 is seen as the third leg of the consolidation pattern from 0.9304. We’ll look for bottoming signal again at it approaches 0.8303 support. On the upside, above 0.8865 minor resistance will turn intraday bias neutral and bring recovery, before staging another fall.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. It’s still in progress with fall from 0.9305 as the third leg. Break of 0.8303 could be seen. 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. Whole up trend from 0.6935 is expected to resume after consolidation from 0.9304 completes.

Daily Pivots: (S1) 0.8548; (P) 0.8568; (R1) 0.8598; More…

Intraday bias in EUR/GBP remains neutral for the moment for consolidation above 0.8430 temporary low. There is no change in the view that price actions from 0.8303 are a consolidation pattern. And, it’s the second leg of the correction from 0.9304. Below 0.8430 will target 0.8402. Break of 0.8402 will resume the fall from 0.9304 to 0.8116/20 cluster support, where the correction should end. Above 0.8604 minor resistance will bring another recovery before fall from 0.9304 resumes.

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. Break of 0.9304 will pave the way 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) 0.8510; (P) 0.8522; (R1) 0.8540; More…

No change in EUR/GBP’s outlook as range trading continues. Intraday bias stays neutral for the moment. On the downside decisive break of 0.8491/7 support zone will confirm larger down trend resumption and target 0.8464 projection level first. Nevertheless, firm break of 0.8577 will turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 0.8764 is seen as another leg in the whole down trend from 0.9267 (2022 high). Outlook will stay bearish as long as 0.8713 resistance holds. Break of 0.8491 will target 61.8% projection of 0.8977 to 0.8491 from 0.8764 at 0.8464.

Daily Pivots: (S1) 0.8592; (P) 0.8617; (R1) 0.8659; More…

Intraday bias in EUR/GBP remains neutral for the moment as consolidation from 0.8469 continues. At this point, we’re tentatively viewing fall from 0.8851 as the third leg of the corrective pattern from 0.9304. Hence, we’d expect upside of the recovery from 0.8469 to be limited by 50.% retracement of 0.8851 to 0.8469 at 0.8660 to bring fall resumption. Below 0.8469 will turn bias to the downside for 0.8303 low. However, firm break of 0.8660 will indicate that rise from 0.8303 is still in progress and would turn bias to the upside for 0.8851 resistance and above.

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).

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Daily Pivots: (S1) 0.8485; (P) 0.8493; (R1) 0.8507; More…

Intraday bias in EUR/GBP stays on the downside with 0.8525 minor resistance intact. Deeper fall should be seen to retest 0.8448 low first. Firm break there resume larger down trend from 0.9499, towards 0.8276 key support. On the upside, above 0.8543 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 0.8656 resistance holds.

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) 0.8349; (P) 0.8382; (R1) 0.8407; More…

EUR/GBP retreated after hitting 0.8415 and intraday bias is turned neutral first. Rise from 0.8282 might be the third leg of the consolidation pattern from 0.8276. Above 0.8415 will target 55 day EMA (now at 0.8473) and above. Nevertheless, decisive break of 0.8276 will confirm resumption of whole fall from 0.9324.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 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 bring stronger rebound.

Daily Pivots: (S1) 0.8670; (P) 0.8764; (R1) 0.8879; More…

Intraday bias in EUR/GBP stays on the upside for the moment with focus on 0.8851 resistance. Decisive break there will extend the rally from 0.8312 to retest 0.9304 high. At this point, there is no clear sign of larger up trend resumption yet. Hence, we’ll be cautious on topping around 0.9304. On the downside, however, break of 0.8639 support will now indicate near term topping and bring deeper pull back to 55 day EMA (now at 0.8601) 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) 0.8873; (P) 0.8892; (R1) 0.8920; More…

Intraday bias in EUR/GBP remains neutral as the cross is staying in range of 0.8732/0.9032. With 0.9032 resistance intact, deeper decline is mildly in favor in the cross. Break of 0.8732 will resume the fall from 0.9305 and target 0.8303 key support level. However, on the upside, decisive break of 0.9032 will confirm completion of the decline from 0.9305. In such case, intraday bias will be turned back to the upside for retesting 0.9305 key 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) 0.8742; (P) 0.8769; (R1) 0.8794; More…

EUR/GBP is staying in consolidation below 0.8821 temporary top and intraday bias remains neutral. Further rise is expected as long as 0.8711 minor support holds. On the upside, sustained break 38.2% retracement of 0.9101 to 0.8617 of 0.8802 will target 61.8% retracement at 0.8916. However, break of 0.8711 will suggest that rebound from 0.8617 has completed. Intraday bias will be turned back to the downside for 0.8617/20 support instead.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). The medium term range is set between 0.8620 and 0.9101. Downside breakout of 0.8620 will pave the way back to 0.8312 support . Break of 0.9101 will bring retest of 0.9304/5 resistance.