Daily Pivots: (S1) 0.8926; (P) 0.8963; (R1) 0.9004; More…

EUR/GBP’s rebound from 0.8786 accelerated to high as 0.8999 and hit 38.2% retracement of 0.9324 to 0.8786 at 0.8992. Intraday bias stays on the upside. Sustained break of 0.8992 will bring stronger rise to 61.8% retracement at 0.9118 and above. On the downside, break of 0.8923 minor support will turn bias back to the downside for retesting 0.8786 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) 0.8898; (P) 0.8935; (R1) 0.8980; More…

EUR/GBP’s rally accelerates to as high as 0.9047 so far. Intraday bias remains on the upside for 0.9098 resistance first. Decisive break there will extend the rise to 0.9304 key resistance next. On the downside, below 0.8958 minor support will turn intraday bias neutral and bring some consolidations first, before staying another rally.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Sustained break of 0.8939 resistance will confirm that it’s in a medium term rising leg for 0.9098 and above. And for now, in case of another fall, downside will likely be contained by 0.8620/55 support zone to bring rebound.

EUR/GBP dropped to 0.8866 last week but recovered just ahead of 0.8864 support. Initial bias remains neutral this week for some consolidations first. Further fall is expected as long as 0.8974 resistance holds. Firm break of 0.8864 should confirm completion of the choppy rebound from 0.8670 at 0.9175. Deeper fall should be seen to 0.8670 support. On the upside, however, break of 0.8974 will dampen this bearish case and turn bias back to the upside for rebound.

In the bigger picture, at this point, we’s 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.

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 is expected down the road, as long as 0.8276 support holds.

Daily Pivots: (S1) 0.8423; (P) 0.8453; (R1) 0.8474; More…

Intraday bias in EUR/GBP is turned neutral with current recovery, but 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) 0.8444; (P) 0.8460; (R1) 0.8477; More…

Intraday bias in EUR/GBP stays mildly on the downside for the moment. Rebound from 0.8201 should have completed at 0.8720, after rejection by 0.8697 medium term fibonacci level. Further fall would be seen to retest 0.8201/48 support zone next. On the upside, above 0.8531 minor resistance will turn intraday bias neutral first.

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) 0.8684; (P) 0.8698; (R1) 0.8714; More….

Intraday bias in EUR/GBP remains neutral and outlook is unchanged. Consolidation from 0.8752 could extend further. Downside should be contained by 55 D EMA (now at 0.8656). Firm break of 0.8752 will resume the whole rise from 0.8491, and target 100% projection of 0.8491 to 0.8704 from 0.8614 at 0.8827 next. However, sustained break of 55 D EMA will argue that whole rebound from 0.8491 has completed, and bring deeper fall to 0.8614 support.

In the bigger picture, current development suggests that whole down trend from 0.9267 (2022 high) has completed with three down to to 0.8491. Rise from 0.8491 is seen as another leg inside that pattern from 0.9499 (2020 high). Further rally should be seen to 0.8977 resistance and above. This will now remain the favored case as long as 0.8614 support holds.

Daily Pivots: (S1) 0.8708; (P) 0.8759; (R1) 0.8804; More…

EUR/GBP’s fall resumed after brief recovery and intraday bias stays on the downside. Break of 61.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8687 will extend the fall from 0.9324 to 100% projection at 0.8481. On the upside, above 0.8811 minor resistance will turn intraday bias neutral. But recovery should be limited well below 0.9019 resistance to bring fall resumption.

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. 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.

Daily Pivots: (S1) 0.8763; (P) 0.8788; (R1) 0.8820; More…

EUR/GBP’s rebound from 0.8753 accelerated higher today. The strong break of 0.8834 resistance argues that fall from 0.8977 has completed with three waves down to 0.8753, ahead of 0.8720 support. The development in turn suggests that rise from 0.8545 is not over. Intraday bias is back on the upside for 0.8927 first. Decisive break there will bring retest of 0.8977 next.

In the bigger picture, outlook is 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.

Daily Pivots: (S1) 0.9039; (P) 0.9054; (R1) 0.9075; More…

Intraday bias in EUR/GBP remains neutral as consolidation from 0.9175 is extending. On the upside, break of 0.9175 will resume larger rise from 0.8670, towards 0.9499 high. However, break of 0.8930 support will also come with firm break of 55 day EMA. That would argue that rebound from 0.8670 has completed. In this case, intraday bias will be turned to the downside for 0.8864 support for confirmation.

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) 0.8592; (P) 0.8635; (R1) 0.8665; More…

Intraday bias in EUR/GBP remains neutral for the moment. As long as 0.8484 support holds, further rise is in favor. Break of 0.8720 and sustained trading above 0.8697 medium term fibonacci level will carry larger bullish implication. Next target is 0.9003 fibonacci level. However, break of 0.8484 will indicate rejection by 0.8697 and turn near term outlook bearish.

In the bigger picture, rise from 0.8201 medium term bottom could could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. Sustained break of 38.2% retracement of 0.9499 to 0.8201 at 0.8697 will affirm the latter case, and pave the way to 61.8% retracement at 0.9003. However, rejection by 0.8697 will maintain medium term bearishness.

Daily Pivots: (S1) 0.9045; (P) 0.9064; (R1) 0.9085; More…

Intraday bias in EUR/GBP remains on the upside and further rise should be seen to 0.9175 resistance. Break there will resume whole rebound from 0.8670. Next target will be 61.8% projection of 0.8670 to 0.9175 from 0.8930 at 0.9242. On the downside, below 0.9034 minor support will dampen this bullish case and turn intraday bias neutral first.

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) 0.8372; (P) 0.8404; (R1) 0.8423; More…

Intraday bias in EUR/GBP remains on the downside at this point. The current down trend from 0.9499 would target 0.8276 long term support next. On the upside, above 0.8433 minor resistance will turn intraday bias neutral for recovery first. But outlook will stay bearish as long as 0.8593 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 0.8656 resistance holds, towards long term support at 0.8276. However, firm break of 0.8656 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) 0.9030; (P) 0.9087; (R1) 0.9117; More…

Intraday bias in EUR/GBP remains neutral first. Further rise is in favor as long as 0.9901 support holds. On the upside firm break of 61.8% retracement of 0.9499 to 0.8670 at 0.9182 will pave the way to retest 0.9499 high. On the downside, however, break of 0.9001 will argue that whole rebound from 0.8670 has completed. Intraday bias will be turned back to the downside for 0.8864 support and below.

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) 0.8653; (P) 0.8699; (R1) 0.8749; More…

Intraday bias in EUR/GBP remains mildly on the downside. Rise from 0.8201 could have completed at 0.9267 in three-wave corrective pattern. Sustained break of 55 day EMA (now at 0.8642) will target 0.8201/8338 support zone. On the upside, above 0.8848 minor resistance will turn bias back to the upside for recovery instead.

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.

Daily Pivots: (S1) 0.8313; (P) 0.8336; (R1) 0.8350; More…

Intraday bias in EUR/GBP remains on the downside for 0.8304 support first. Break there will remain larger down trend and target 0.8276 long term support next. On the upside, above 0.8366 minor resistance will turn bias back to the upside for 0.8421 resistance first. Break of 0.8421 will resume the rebound towards 0.8598 key structural resistance.

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 0.8598 resistance holds, towards long term support at 0.8276. We’d look for bottoming signal around there to bring reversal. Meanwhile, firm break of 0.8598 will now be an early sign of medium term bottoming and bring stronger rebound. However, sustained break of 0.8276 will argue that the long term trend has reversed.

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) 0.8505; (P) 0.8531; (R1) 0.8571; More…

EUR/GBP recovered after forming a temporary low at 0.8430, ahead of 0.8402 support. Intraday bias is turned neutral first. 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) 0.8825; (P) 0.8842; (R1) 0.8862; More…

Intraday bias in EUR/GBP stays on the upside despite some loss of upside momentum. Further rally would be seen to 61.8% retracement of 0.9276 to 0.8545 at 0.8997 and possibly above. In any case, further rally will remain in favor as long as 4 hour 55 EMA (now at 0.8783) holds.

In the bigger picture, fall from 0.9267 is seen as a down leg inside long term range pattern. Deeper fall could be seen towards 0.8201/8338 support zone. But strong support should be seen there to bring reversal. Nevertheless, firm break of 0.8827 resistance will turn favor to the case that such decline is merely a correction in the up trend from 0.8201. That is, further rally would be seen at a later stage through 0.9267.

Daily Pivots: (S1) 0.8669; (P) 0.8682; (R1) 0.8696; More…

Intraday bias in EUR/GBP remains neutral for the moment. Further decline is expected as long as 0.8758 resistance holds. On the downside, break of 0.8660 will resume recent decline from 0.8977 to 100% projection of 0.8977 to 0.8717 from 0.8874 at 0.8614. Nevertheless, break of 0.8758 minor resistance will turn bias back to the upside for stronger rebound.

In the bigger picture, current development argues that whole decline from 0.9267 (2022 high) is still in progress. This is part of the long term range pattern from 0.9499 (2020 high). Deeper fall would be seen through 0.8545 support. This will now remain the favored case as long as 0.8874 resistance holds.

EUR/GBP turned into sideway consolidations last week. Initial bias stays neutral this week first and further decline is expected with 0.8674 resistance intact. Break of 0.8545 will resume the fall from 0.9267, and target 61.8% projection of 0.9267 to 0.8647 from 0.8827 at 0.8444 next. On the upside, above 0.8674 minor resistance will indicate short term bottoming, and bring stronger rebound back to 0.8827 instead.

In the bigger picture, current development suggests that fall from 0.9267 is a down leg inside long term range pattern. Deeper fall could be seen towards 0.8201/8338 support zone. But strong support should be seen there to bring reversal. Nevertheless, firm break of 0.8827 resistance will turn favor to the case that such decline is merely a correction in the up trend from 0.8201. That is, further rally would be seen at a later stage through 0.9267.

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).