Daily Pivots: (S1) 0.8570; (P) 0.8603; (R1) 0.8627; More…

Intraday bias in EUR/GBP remains neutral as it reversed after brief recovery to 0.8635. On the downside, 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 0.8670) 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.

EUR/GBP’s dropped to as low as 0.8229 last week and there is no sign of bottoming yet. Initial bias stays on the downside this week first. Firm break of 100% projection of 0.8476 to 0.8304 from 0.8405 at 0.8233 will target 161.8% projection at 0.8127. On the upside, above 0.8304 minor resistance will turn intraday bias neutral first.

In the bigger picture, the down trend from 0.9499 is expected to continue as long as 0.8476 resistance holds. Sustained trading below 0.8276 support will argue that the whole up trend from 0.6935 (2015 low) has reversed. Deeper fall should be seen to 61.8% retracement of 0.6935 to 0.9499 at 0.7917 next.

In the long term picture, current development argues that fall from 0.9499 is probably the third leg of the pattern from 0.9799 (2008 high). Sustained break of 61.8% retracement of 0.6935 to 0.9499 at 0.7917 will pave the way back to 0.6935 (2015 low) and probably below.

Daily Pivots: (S1) 0.8965; (P) 0.8988; (R1) 0.9009; More…

Consolidation from 0.9086 is still in progress and intraday bias remains neutral first. Downside of the consolidation should be contained by 0.8931 resistance turned support to bring another rise. On the upside firm break of 0.9098 resistance will extend the whole rise from 0.8655 to 0.9304 key resistance next. However, considering bearish divergence condition in 4 hour MACD, firm break of 0.8931 will indicate near term reversal and target 0.8810 support and below.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). It should be in medium term rising leg for 0.9304. Meanwhile, in case of another fall, down side should be contained by 0.8620/55 support zone to bring rebound.

Daily Pivots: (S1) 0.8547; (P) 0.8560; (R1) 0.8577; More…

Intraday bias in EUR/GBP stays neutral for the moment. Further rise is in favor as long as 0.8504 support holds. On the upside, break of 0.8592 resistance will resume the rebound from 0.8448 to 0.8668 resistance. Firm break there will be a strong sign of near term bullish reversal at least. However, break of 0.8504 will turn focus back to 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.

EUR/GBP’s rebound from 0.8722 extended to as high as 0.8896 last week. The break of 0.8847 support turned resistance will suggest that the fall from 0.9097 has completed at 0.8722 already. Initial bias stays on the upside this week for 61.8% retracement of 0.9097 to 0.8722 at 0.8954 and above. On the downside, break of 0.8798 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). On the downside, break of 0.8722 will extend the falling leg through 0.8620 support. On the upside, break of 0.9097 will target 0.9304 resistance instead.

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 rebounded to as high as 0.8722 last week. But it was rejected by 55 day EMA and quickly reversed. Initial bias is neutral this week first for some consolidative trading. On the downside, break of 0.8474 low will resume recent down trend and target 0.8416 long term projection next. On the upside, though, break of 0.8722 will resume the rebound from 0.8474 to 0.8840 resistance first.

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.

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). As long as 50% retracement of 0.6935 to 0.9304 at 0.8120 holds, further rise should be seen through 0.9305 to 0.9799 and above down the road.

Daily Pivots: (S1) 0.9016; (P) 0.9031; (R1) 0.9047; More…

Intraday bias in EUR/GBP remains neutral with focus on 0.9007 support. Break will resume the decline from 0.9291 and turn intraday bias to the downside. Nevertheless, as such fall is still seen as a corrective move, downside should be contained above 0.8866 support to bring rebound. On the upside, break of 0.9148 resistance will now suggest completion of the correction and bring retest of 0.9291 resistance.

In the bigger picture, at this point, 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. Decisive break of 0.9499 will target 0.9799 (2008 high).

Daily Pivots: (S1) 0.8733; (P) 0.8802; (R1) 0.8841; More…

EUR/GBP drops sharply to as low as 0.8763 so far. Intraday bias remains on the downside as fall from 0.9101 is targeting 0.8655 support. On the upside, break of 0.8927 support turned resistance is needed to confirm short term bottoming. Otherwise, risk will stay on the downside even in case of recovery.

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 break out of 0.8620 will pave the way back to 0.8302/12 support zone. Break of 0.9101 will bring retest of 0.9304/5 resistance.

Daily Pivots: (S1) 0.8911; (P) 0.8935; (R1) 0.8977; More…

EUR/GBP is losing some upside momentum as seen in 4 hour MACD. But with 0.8825 minor support intact, further rise is still in favor. Firm break of 38.2% retracement of 0.9499 to 0.8670 at 0.8987 should indicate completion of whole fall from 0.9499. Further rally should be seen to 61.8% retracement at 0.9182 and above. On the downside, though, break of 0.8825 minor support will turn bias to the downside for retesting 0.8670 instead.

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) 0.8743; (P) 0.8771; (R1) 0.8789; 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 consolidation pattern from 0.9304. We’ll look for bottoming signal again at it approaches 0.8303 support. However, break of 0.8884 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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) 0.8773; (P) 0.8814; (R1) 0.8864; More…

Intraday bias in EUR/GBP stays neutral first. Strong support is still expected from 61.8% retracement of 0.8282 to 0.9499 at 0.8747 to contain downside to bring rebound. On the upside, 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) 0.8523; (P) 0.8532; (R1) 0.8547; More….

Intraday bias in EUR/GBP remains neutral for the moment. In case of another fall, strong support should be seen from 55 D EMA (now at 0.8498), to complete the correction from 0.8624. Break of 0.8591 resistance will argue that rise from 0.8382 is ready to resume through 0.8624. However, sustained break of 55 D EMA will bring deeper fall to 61.8% retracement of 0.8382 to 0.8624 at 0.8474.

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 for 0.8764 resistance next.

Daily Pivots: (S1) 0.8437; (P) 0.8466; (R1) 0.8520; More…

Further rise is mildly in favor in EUR/GBP. Sustained break of 55 day EMA (now at 0.8486) will target 0.8593 structural resistance. On the downside, though, break of 0.8434 minor support will turn bias back to the downside for retesting 0.8379 low.

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. However, sustained break of 0.8276 will be a sign of long term bearish reversal.

Daily Pivots: (S1) 0.8913; (P) 0.8934; (R1) 0.8963; More

EUR/GBP is staying in consolidation below 0.8994 temporary top and intraday bias remains neutral first. Downside of retreat should be contained by 0.8828 minor support to bring another rally. Break of 0.8994 will extend the whole rise from 0.8312 towards 0.9304 high. here 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.

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) 0.8908; (P) 0.8926; (R1) 0.8948; More…

With 0.8877 minor support intact, further is expected in EUR/GBP/ Prior break of 0.8928 resistance indicates near term trend reversal. Decline from 0.9305 has completed at 0.8686 after hitting 61.8% retracement of 0.8312 to 0.9305. Further rise should be seen back to 61.8% retracement of 0.9305 to 0.8686 at 0.9069. Firm break there will target retest of 0.9305 high. On the downside, below 0.8877 minor support will dampen this bullish view and target 0.8771 support 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) 0.8507; (P) 0.8523; (R1) 0.8534; More….

Intraday bias in EUR/GBP remains on the downside at this point. Correction from 0.8624 is in progress for 100% projection of 0.8624 to 0.8530 from 0.8591 at 0.8497, which is close to 55 D EMA (now at 0.8494). Strong support should be seen there to bring rebound. But for now, risk will stay on the downside as long as 0.8591 resistance holds, in case of recovery.

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 for 0.8764 resistance next.

Daily Pivots: (S1) 0.8656; (P) 0.8671; (R1) 0.8692; More….

EUR/GBP’s rebound from 0.8548 is still in progress and intraday bias remains on the upside. Further rise should be seen to 0.8764 key resistance next. On the downside, however, break of 0.8633 support will turn bias back to the downside for 0.8548 support instead.

In the bigger picture, current development suggests that down trend from 0.9267 (2022 high) is still in progress. This decline is seen as the third leg of the pattern from 0.9499 (2020 high). Break of 0.8201 will target 100% projection of 0.9499 to 0.8201 from 0.9267 at 0.7969. In any case, outlook will stay bearish as long as 0.8764 resistance holds.

Daily Pivots: (S1) 0.8494; (P) 0.8505; (R1) 0.8520; More…

Intraday bias in EUR/GBP remains neutral at this point as range trading continues. On the upside, above 0.8549 temporary top will target 0.8593 structural resistance. Sustained break there will be the first sign of larger bullish reversal and target 0.8656 resistance next. On the downside, break of 0.8487 minor support will turn bias back to the downside for 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.

After recovering to 0.8734, EUR/GBP reversed and dropped sharply to as low as 0.8483 last week. The development argues that consolidation pattern from 08303 is completed with three waves to 0.8786. And larger corrective fall from 0.9304 is resuming for a new low below 0.8303.

Initial bias in EUR/GBP stays on the downside this week for 0.8402 support. Break will indicate that larger decline from 0.9304 is resuming. In such case, EUR/GBP should target 0.8303 low and below. As fall from 0.9304 is viewed as a corrective move, we’d expect strong support at 0.8116/20 cluster support to contain downside and bring rebound. On the upside, break of 0.8604 support turned resistance is needed to indicate completion of fall from 0.8786. Otherwise, outlook will remain cautiously 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. 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.

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 correction from 0.9304 completes, we’d expect another medium term up trend to target 0.9799 high and above.

EUR/GBP’s sharp decline last week argues that fall from 0.9324 is ready to resume. Initial bias remains on the downside this week for 0.8276 low first. Break will confirm this bearish case and target 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8386 support turned 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 0.8595 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.

In the long term picture, fall from 0.9324 is currently seen as the third leg of the whole pattern from 0.9799 (2008 high). It’s a bit early to judge how fall the decline would extend to and whether 0.6935 would be taken out. We’ll pay attention to the structure of the fall from 0.9324 and corresponding downside momentum to made an assessment later.