Daily Pivots: (S1) 0.8657; (P) 0.8679; (R1) 0.8696; More…

EUR/GBP’s fall fro 0.8840 resumed after brief consolidation and reaches as low as 0.8629 so far. Intraday bias is back on the downside for 0.8617/20 key support zone. Decisive break there will resume larger decline from 0.9305. On the upside, above 0.8728 minor resistance will turn bias to the upside for 0.8840 resistance instead.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). On the downside, decisive break of 0.8620 support will resume the falling leg from 0.9305 (2017 high) to 100% projection of 0.9305 to 0.8620 from 0.9101 at 0.8416. In that case, we’d expect strong support around 0.8312 to contain downside and bring rebound.

Daily Pivots: (S1) 0.8671; (P) 0.8684; (R1) 0.8699; More…

With 0.8638 minor support intact, further rise is expected in EUR/GBP. Rebound from 0.8470 short term bottom should target 38.2% retracement of 0.9291 to 0.8470 at 0.8784. On the downside, however, below 0.8620 minor support will bring retest of 0.8470 support instead.

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 medium term outlook bearish.

EUR/GBP’s range trading continued last week, inside 0.8693/8844. Intraday bias remains neutral this week first. More consolidative trading could be seen. But still, as long as 0.8693 minor support holds, further rally is in favor. On the upside, break of 0.8844 will resume the rebound from 0.8620 for 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). However, break of 0.8693 will bring deeper fall back to retest 0.8620 low.

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.

EUR/GBP edged lower to 0.8502 last week but quickly recovered. Initial bias stays neutral this week first and further decline is mildly in favor. Break of 0.8502 will resume whole fall from 0.8977 and target 61.8% projection of 0.8874 to 0.8517 from 0.8650 at 0.8436. However, firm break of 0.8583 will bring stronger rebound back to 0.8657 resistance.

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.

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).

Daily Pivots: (S1) 0.8976; (P) 0.9108; (R1) 0.9180; More…

Outlook in EUR/GBP remains unchanged as consolidation from 0.9499 is extending. Deeper pull back might be seen. 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 fell to 0.8585 last week but turned sideway since then. Initial bias stays neutral this week and more consolidations could be seen. But further decline is expected as long as 0.8638 minor resistance holds. On the downside, below 0.8585 will resume the fall from 0.8713 to 0.8548 support. Firm break there will target 0.8491 low next.

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 0.8764 resistance holds. Break of 0.8491 will target 61.8% projection of 0.8977 to 0.8491 from 0.8764 at 0.8464.

In the long term picture, price action from 0.9499 (2020 high) is seen as part of the long term range pattern from 0.9799 (2008 high). Fall from 0.9267 is the third leg of the pattern from 0.9499. Break of 0.8201 (2022 low) will target 100% projection of 0.9499 to 0.8201 from 0.9267 at 0.7969.

Daily Pivots: (S1) 0.8580; (P) 0.8596; (R1) 0.8615; More…

Range trading continues above 0.8559 in EUR/GBP. Intraday bias stays neutral at this point. On the downside, below 0.8559 will target a test on 0.8470 low. On the upside, though, break of 0.8718 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) 0.8679; (P) 0.8700; (R1) 0.8716; More…

Range trading continues in EUR/GBP and intraday bias remains neutral first. On the upside, break of 0.8718 will resume the rebound from 0.8470, for 38.2% retracement of 0.9291 to 0.8470 at 0.8784. On the downside, break of 0.8587 will bring retest of 0.8470 low instead.

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 medium term outlook bearish.

Daily Pivots: (S1) 0.8893; (P) 0.8958; (R1) 0.8992; 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) 0.8860; (P) 0.8895; (R1) 0.8916; More…

Intraday bias in EUR/GBP remains neutral for the moment. Further rally is expected as long as 0.8802 support holds. Above 0.8927 will target 0.8977 resistance. Firm break there will confirm resumption of whole rally from 0.8545. However, break of 0.8802 will now be a sign of reversal and turn bias back to 0.8720 support instead.

In the bigger picture, the notable support from 55 day EMA (now at 0.8804) retains near term bullishness. Break of 0.8977 should target 0.9267 (2022 high) and possibly above, to resume whole up trend from 0.8201 (2022 low). However, sustained trading below 55 day EMA will set the stage for 0.8545 and below.

Daily Pivots: (S1) 0.8875; (P) 0.8899; (R1) 0.8920; More…

For now, with 0.8829 minor support intact, further rise is expected in EUR/GBP to 0.9101 key resistance next. As upside momentum is diminishing as seen in 4 hour MACD, we’d be cautious on strong resistance from there to limit upside to bring retreat. 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 0.8526). 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.

EUR/GBP finally resumed the rebound from 0.8260 by breaking through 0.8844 last week to 0.8890. As a temporary top was formed, initial bias is neutral this week first. Downside of retreat should be contained well above 0.8724 support to bring rise resumption. Above 0.8890 will target 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963).

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 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.

EUR/GBP turned into consolidation above 0.8773 temporary low last week. But overall outlook is unchanged. Initial bias remains neutral this week first. Near term outlook stays bearish as long as 0.8981 cluster resistance holds (38.2% retracement of 0.9305 to 0.8773 at 0.8976). Fall from 0.9305 is seen as the third leg of consolidation pattern from 0.9304. Below 0.8773 will target 61.8% retracement of 0.8312 to 0.9305 at 0.8691 and below. We’ll look for bottoming signal again at it approaches 0.8303 support.

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.

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 through 0.9799 to 61.8% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

Daily Pivots: (S1) 0.8598; (P) 0.8616; (R1) 0.8647; More…

Intraday bias in EUR/GBP stays neutral at this point and more sideway trading could be seen. 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 firm break of 0.8717 resistance will suggest larger reversal and target 0.8874 resistance next.

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) 0.8775; (P) 0.8801; (R1) 0.8818; More…

EUR/GBP is staying in consolidation from 0.8865 and intraday bias remains neutral at this point. In case of another fall, we’d expect strong support from 0.8639 to contain downside and bring rise resumption. Decisive break of 0.8851 resistance will pave the way to retest 0.9304 high. 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) 0.8397; (P) 0.8453; (R1) 0.8550; More…

Intraday bias in EUR/GBP remains neutral and outlook is unchanged. We’d still expect upside to be limited by 0.8508 to bring fall resumption. On the downside, below 0.8276 will resume the decline from 0.9324 and target 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8149 next. However, firm break of 0.8508 will indicate short term bottoming and bring stronger rebound to 55 day EMA (now at 0.8594).

In the bigger picture, fall from 0.9324 medium term top is still in progress. 38.2% retracement of 0.6935 to 0.9324 at 0.8411 was firmly taken out. Further decline should now be seen to 61.8% retracement at 0.7848 next. In any case, further decline would remain in favor as long as 0.8786 support turned resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 0.8809; (P) 0.8826; (R1) 0.8842; More…

EUR/GBP’s consolidation from 0.8850 is still in progress and intraday bias remains neutral. Deeper retreat could be seen through 4 hour 55 EMA (now at 0.8799). But downside should be contained above 0.8681 resistance turned support to bring rebound. On the upside, break of 0.8850 and sustained trading above 0.8840 resistance will pave the way to 0.9101 key resistance next.

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) 0.8813; (P) 0.8881; (R1) 0.8924; More

Intraday bias in EUR/GBP is turned neutral with the sharp pull back from 0.8948. Some consolidations would be seen but another rise is expected as long as 0.8756 support holds. Above 0.8948 will extend the rise from 0.9312 to retest 0.9304 high. However, firm break of 0.8756 will indicate near term reversal and turn bias to the downside.

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) 0.8697; (P) 0.8720; (R1) 0.0.8749; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the upside, firm break of 0.8779 will argue that corrective fall from 0.9267 has completed at 0.8570. Intraday bias will be back on the upside for 0.8869 first. Break there will bring retest of 0.9267 high. On the downside, break of 0.8570 will resume the fall from 0.9267 and target 0.8201/8388 support zone.

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.

Daily Pivots: (S1) 0.8492; (P) 0.8510; (R1) 0.8534; More…

Outlook in EUR/GBP remains unchanged. Intraday bias stays neutral and further rally is mildly in favor with 0.8387 minor support intact. On the upside, firm break of 0.8593 resistance will be the first sign of larger bullish reversal and target 0.8656 resistance next. On the downside, however, break of 0.8487 will turn bias back to the downside to retest 0.8379 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 0.8593 resistance holds, towards long term support at 0.8276. We’d look for bottoming signal around there to bring reversal. Meanwhile, firm break of 0.8593 will now be an early sign of medium term bottoming. Further break of 0.8656 will pave the way to 38.2% retracement of 0.9499 to 0.8379 at 0.8807.