Daily Pivots: (S1) 0.8427; (P) 0.8441; (R1) 0.8453; More…

No change in EUR/GBP’s outlook. With 0.8498 minor resistance, intraday bias remains on the downside for 0.8411 fibonacci level first. Decisive break there will pave the way to 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481,0.8149 next. On the upside, above 0.8498 minor resistance will turn bias neutral and bring recovery first.

In the bigger picture, correction from 0.9324 medium term top is still in progress. Deeper fall should be seen back to 38.2% retracement of 0.6935 to 0.9324 at 0.8411. Based on current downside momentum, sustained break of 0.8411 would pave the way to 61.8% retracement at 0.7848. In any case, further decline would remain in favor as long as 0.8768 support turned resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 0.9098; (P) 0.9123; (R1) 0.9157; More

With 0.9007 support intact, further rise is expected in EUR/GBP for 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.

EUR/GBP stayed in range of 0.8693/8844 last week and outlook is unchanged. Initial bias remains neutral this week first. With 0.8693 minor support intact, we’d favor another rise. 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 stayed in consolidation below 0.8876 last week. Initial bias stays neutral this week first. Further rally is expected as long as 55 day EMA (now at 0.8719) holds. Break of 0.8876 will resume the rise from 0.8545 to 61.8% retracement of 0.9276 to 0.8545 at 0.8997 and possibly above. However, sustained trading below 55 day EMA will bring retest of 0.8545 low instead.

In the bigger picture, outlook is mixed for now as rise from 0.8545 would either be part of the up trend from 0.8201 (2022 low), or just a correction to 0.9267 (2022 high). As long as 55 week EMA (now at 0.8609) holds, the former case is in favor, and break of 0.9267 should be seen next as up trend resumes at a later stage. However, sustained break of 55 week EMA will shift favor to the latter case, for another decline back towards 0.8201.

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) 0.8522; (P) 0.8547; (R1) 0.8564; More…

Intraday bias in EUR/GBP remains neutral first. On the upside, sustained break of 0.8668 will be a strong sign of larger bullish reversal. Next target will be 161.8% projection of 0.8448 to 0.8612 from 0.8499 at 0.8764. On the downside, though, break of 0.8499 will bring retest of 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) 0.8545; (P) 0.8564; (R1) 0.8582; More…

Intraday bias in EUR/GBP remains neutral at this point and near term outlook is mixed. On the upside, firm break of 0.8670 resistance will revive that case that rebound from 0.8470 is resuming. Intraday bias will be turned back to the upside for 0.8718 resistance first. However, break of 0.8502 will resume the choppy corrective fall from 0.8718 towards 0.8470 low.

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) 0.9168; (P) 0.9218; (R1) 0.9245; More

Intraday bias in EUR/GBP is neutral for the moment. We’d stay cautious on rejection from 0.9304 to extend the medium term consolidation pattern. Break of 0.9184 minor support will turn bias back to the downside for pull back to 55 day EMA (now at 0.8986). However, sustained break of 0.9304 will confirm up trend resumption and pave the way to 0.9799.

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. Firm break of 0.9799 high will target 61.8% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

Daily Pivots: (S1) 0.8595; (P) 0.8618; (R1) 0.8629; More…

Range trading continues in EUR/GBP and intraday bias stays neutral at this point. 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) 0.8564; (P) 0.8588; (R1) 0.8604; More…

EUR/GBP’s choppy decline from 0.8718 resumes by breaking 0.8559 support. Intraday bias is back on the downside for a test on 0.8470 low. On the upside, break of 0.8627 will turn bias back to the upside for 0.8670 resistance and above instead.

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) 0.8409; (P) 0.8429; (R1) 0.8441; More….

Intraday bias in EUR/GBP remains neutral for the moment. Consolidation from 0.8382 might extend with stronger recovery. But outlook continues to stay bearish with 0.8498 resistance intact. Firm break of 0.8382 will resume larger down trend next target will be 138.2% projection of 0.8764 to 0.8497 from 0.8463 at 0.8274.

In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 0.8201 key support (2022 low). For now, outlook will remain bearish as long as 0.8643 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 0.8613; (P) 0.8637; (R1) 0.8653; More…

Intraday bias sin EUR/GBP is turned neutral as recovery was rejected by 4 hour 55 EMA. Overall outlook stays bearish with 0.8827 resistance intact. On the downside, break of 0.8570 temporary low will resume the decline from 0.9267, towards 0.8338 support.

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.

Daily Pivots: (S1) 0.8756; (P) 0.8777; (R1) 0.8791; More…

No change in EUR/GBP’s outlook as further decline is still expected with 0.8838 minor resistance. It’s now in the third leg of the corrective pattern from 0.9499. Break of 0.8670 support would target 161.8% projection of 0.9291 to 0.8861 from 0.9229 at 0.8533. On the upside, break of 0.8838 minor resistance will turn intraday bias to the upside for rebound first.

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. Decisive break of 0.9499 will target 0.9799 (2008 high).

Daily Pivots: (S1) 0.8472; (P) 0.8491; (R1) 0.8503; More…

Intraday bias in EUR/GBP is back on the downside with break of 0.8452 support. Fall from 0.8598 will target 0.8379 first. Firm break there will resume larger down trend fro m0.9499 to long term support at 0.8276. For now, deeper decline will remain in favor as long as 0.8549 resistance holds, in case of recovery.

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.

Daily Pivots: (S1) 0.8964; (P) 0.9002; (R1) 0.9024; More…

Intraday bias in EUR/GBP stays neutral for the moment. Further rise cannot be ruled out with 0.9854 support intact. But we’d be cautious on topping below 0.9101. On the downside, break of 0.8954 support will indicate short term topping. In this case, deeper pull back could be seen to 55 day EMA (now at 0.8875) 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 0.8545). 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) 0.8866; (P) 0.8881; (R1) 0.8894; More…

EUR/GBP is staying in range of 0.8828/8923 and intraday bias remains neutral at this point. On the downside, firm break of 0.8828, and sustained trading below 0.8861 will target 0.8670 support, as the third leg of pattern from 0.9499. On the upside, though, break of 0.8923 resistance will confirm defense of 0.8861. Intraday bias will be turned back to the upside for 55 day EMA (now at 0.879) and above.

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. Decisive break of 0.9499 will target 0.9799 (2008 high).

Daily Pivots: (S1) 0.8584; (P) 0.8594; (R1) 0.8611; More…

Intraday bias in EUR/GBP remains neutral for consolidation above 0.8566. Upside of recovery should be limited by 0.8660 support turned resistance and bring another fall. Break of 0.8566 will resume the fall from 0.8977, and target 161.8% projection of 0.8977 to 0.8717 from 0.8874 at 0.8453.

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 0.8717 support turned resistance holds.

Daily Pivots: (S1) 0.8487; (P) 0.8513; (R1) 0.8550; More…

Intraday bias in EUR/GBP stays neutral for the moment. On the upside break of 0.8552 resistance will suggest that pull back from 0.8720 has completed. That will also also revive near term bullishness. Further rise should be seen to retest 0.8720 high. On the downside, break of 0.8401 will reaffirm rejection by 0.8697 medium term fibonacci level and target 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) 0.8839; (P) 0.8880; (R1) 0.8905; 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) 0.8590; (P) 0.8622; (R1) 0.8638; More…

EUR/GBP drops to as low as 0.8537 so far, just inch above 161.8% projection of 0.9291 to 0.8861 from 0.9229 at 0.8533. We’d pay attention to bottoming signal around current level. Break of 0.8653 minor resistance will turn bias to the upside for rebound, back towards 0.8737 resistance. However, sustained break of 0.8533 could carry larger bearish implications and target 0.8276 key support.

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 outlook bearish.

Daily Pivots: (S1) 0.8769; (P) 0.8793; (R1) 0.8819; More…

Rebound from 0.8686 is still in progress and further rise could be seen. But after all, near term outlook stays bearish as long as 0.8928 resistance holds and another fall is expected. Firm break of 0.8686 support 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.

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.