Daily Pivots: (S1) 0.8304; (P) 0.8343; (R1) 0.8376; More…

Intraday bias in EUR/GBP is back on the downside as fall from 0.8476 resumes. Deeper decline could be seen to 0.8282 low. Sustained break of 0.8276 key long term support will carry larger bearish implication. On the upside, above 0.8381 minor resistance will turn bias back to the upside for 0.8476 resistance. Break there will resume the rebound from 0.8282.

In the bigger picture, price actions from 0.9499 (2020 high) are still seen a corrective pattern that should be contained by 0.8276 long term support (2019 low). Sustained trading above 38.2% retracement of 0.9499 to 0.8282 at 0.8747 will affirm this bullish case. However, sustained break of 0.8276 will argue that the long term trend has reversed. Deeper decline would be seen to 61.8% retracement of 0.6935 to 0.9499 at 0.7917.

EUR/GBP’s rebound from 0.8529 continued last week but lost momentum after hitting 0.8619. Initial bias is turned neutral this week first. On the downside, below 0.8585 minor support will argue that rebound from 0.8529 has completed, and larger fall might be ready to resume. Intraday bias will be back on the downside for 0.8529 support first.

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.

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). Range trading should continue between 0.8201 and 0.9499, until there is clear signal of imminent breakout.

Daily Pivots: (S1) 0.8689; (P) 0.8726; (R1) 0.8791; More…

Range trading continues in EUR/GBP and intraday bias stays neutral. Further decline is expected with 0.8869 resistance intact. On the downside, break of 0.8577 will resume the fall from 0.9267, towards 0.8201/8388 support zone. However, firm break of 0.8869 will indicate that such decline has completed after defending 55 day EMA. Intraday bias will be back on the upside for retesting 0.9267 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.

EUR/GBP dropped to as low as 0.8627 last week as down trend form 0.9305 resumed. As a temporary low is likely formed, initial bias is neutral this week first. But recovery should be limited well below 0.8796 resistance to bring another decline. Break of 61.8% projection of 0.9305 to 0.8745 from 0.8967 at 0.8621 will pave the way to 100% projection at 0.8407.

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.

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 dropped to as low as 0.8908 last week. The close below 55 day EMA argues that rebound choppy rebound from 0.8670 has already completed at 0.9175. Initial bias is now on the downside for 0.8864 support first. Break there should confirm this bearish case and target 0.8670 and below. On the upside, though, break of 0.8974 resistance will turn intraday bias neutral first.

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) 0.8330; (P) 0.8351; (R1) 0.8368; More…

EUR/GBP is losing some downside momentum. But further decline is expected as long as 0.8417 resistance holds. Current fall is part of the larger down trend from 0.9499. Further decline would be seen to 0.8276 key long term support. On the upside, above 0.8417 minor resistance will turn bias back to the upside for stronger rebound.

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) 0.8554; (P) 0.8573; (R1) 0.8605; More….

Intraday bias in EUR/GBP is turned neutral first with current retreat, and more consolidations could be seen below 0.8624. But outlook stays bullish as long as 38.2% retracement of 0.8382 to 0.8624 at 0.8532 holds. Firm break of 0.8624 will resume the rally from 0.8382. However, decisive break of 0.8532 will bring deeper fall to 61.8% retracement 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) 0.8532; (P) 0.8540; (R1) 0.8548; More…

Range trading continues in EUR/GBP and intraday bias remains neutral at this point. While another recovery cannot be ruled out, outlook will stay bearish as long as 0.8591 resistance holds. On the downside, break of 0.8512 will resume the decline from 0.8713 to 0.8491, and then 0.8464 projection level. However, firm break of 0.8591 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) 0.8645; (P) 0.8670; (R1) 0.8686; More…

EUR/GBP breaches 0.8694 temporary top but with weak upside moment as seen in 4 hour MACD. Nonetheless, intraday bias is mildly back on the upside side. Rise from 0.8402 is viewed as the third leg of the corrective price actions from 0.8303.Such rally would target 0.8851 resistance and above. However, whole price actions from 0.8303 are viewed as the second leg of the correction from 0.9304. Hence, we’d expect strong resistance from 100% projection of 0.8303 to 0.8851 from 0.8402 at 0.8950 to limit upside. On the downside, below 0.8655 minor support will turn bias neutral again. But further rise would remain in favor as long as 0.8546 support holds.

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).

Daily Pivots: (S1) 0.8575; (P) 0.8588; (R1) 0.8608; More…

Break of 0.8614 suggests that EUR/GBP’s rebound from 0.8312 is resuming. Intraday bias is turned back to the upside for 0.8786 resistance next. Overall, price actions 0.9304 are viewed as a medium term corrective pattern that is extending. As EUR/GBP has just defended 0.8303 resistance. Break of 0.8786 could bring a retest on 0.9304 high. On the downside, below 0.8523 minor support will turn bias back to the downside for 0.8383 support instead.

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) 0.8797; (P) 0.8831; (R1) 0.8860; More…

Intraday bias in EUR/GBP remains neutral for the moment. 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) 0.8794; (P) 0.8853; (R1) 0.8919; More…

No change in EUR/GBP’s outlook as correction from 0.9499 is extending. Deeper fall could 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, above 0.9052 minor resistance will turn bias back to the upside for retesting 0.9499 high first.

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.

Daily Pivots: (S1) 0.8431; (P) 0.8449; (R1) 0.8473; More…

Intraday bias in EUR/GBP remains neutral at this point. On the upside, break of 0.8491 resistance will resume the rebound from 0.8338. That would also argue that choppy decline from 0.8720 has completed. Bias will be back to the upside for 0.8585 resistance. On the downside, below 0.8386 should resume the fall from 0.8720 through 0.8338.

In the bigger picture, current development suggests rejection by 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Medium term bearishness is maintained. Break of 0.8201 will resume larger down trend from 0.9499 (2020 high). Nevertheless, sustained break of 0.8697 will affirm the case that rise from 0.8201 is a medium term up trend itself.

Daily Pivots: (S1) 0.8894; (P) 0.8922; (R1) 0.8946; More…

EUR/GBP is staying in corrective pattern from 0.9030 and intraday bias remains neutral first. In case of deeper pull back, downside should contained by 0.8854 support to bring rebound. On the upside, firm break of 61.8% retracement of 0.9305 to 0.8620 at 0.9043 will pave the way to retest 0.9305 key resistance. However, sustained break of 0.8854 will indicate near term reversal and turn outlook bearish.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). The corrective structure of the fall from 0.9305 to 0.8620 is raising the chance that rise from 0.8312 to 0.9305 is an impulsive move. But we’re not too confident on it yet. In any case, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

Daily Pivots: (S1) 0.8557; (P) 0.8599; (R1) 0.8624; More…

Intraday bias in EUR/GBP remains neutral for the moment, as range trading continues. Further rally is expected with 0.8484 support intact. On the upside, 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) 0.8562; (P) 0.8572; (R1) 0.8581; More…

EUR/GBP is still bounded in range below 0.8601 and intraday bias remains neutral. On the downside, firm break of 0.8529 support will argue that the corrective recovery from 0.8497 has completed at 0.8601. Intraday bias will be back on the downside for retesting 0.8497 low next. On the upside, break of 0.8601 will resume the rebound instead.

In the bigger picture, there is no clear sign that down trend from 0.9267 has completed, despite loss of downside momentum as seen in D MACD. As long as 0.8713 resistance holds, the down trend will remain in favor to resume through 0.8491 low at la later stage.

Daily Pivots: (S1) 0.8788; (P) 0.8799; (R1) 0.8818; More…

Intraday bias in EUR/GBP stays neutral for the moment, and outlook remains mixed. On the upside, break of 0.8864 will target 0.8924 resistance first. Firm break there should resume larger rise from 0.8545 through 0.8977 high. However, decisive break of 0.8717 support will resume the decline from 0.8977 instead.

In the bigger picture, outlook remains 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) 0.8562; (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) 0.8472; (P) 0.8531; (R1) 0.8564; More…

EUR/GBP recovers mildly today but with 0.8568 minor resistance intact, intraday bias stays on the downside. Current development suggests that consolidation from 0.8472 has completed with three waves to 0.8681, after failing to sustain above 55 day EMA. Break of 0.8472 low will resume fall from 0.9101 and target 61.8% projection of 0.9101 to 0.8472 from 0.8681 at 0.8292 next. On the upside, above 0.8568 minor resistance will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, medium term decline from 0.9306 (2017 high) is seen as a corrective move. Current development suggests that it’s extending through 0.8312 support towards 50% retracement of 0.6935 (2015 low) to 0.9306 at 0.8121. We’ll look for strong support around there to contain downside to complete the correction. But for now, break of 0.8681 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

Daily Pivots: (S1) 0.8817; (P) 0.8825; (R1) 0.8840; More…

EUR/GBP is still bounded in range of 0.8717/8864 despite today’s decline. Intraday bias remains neutral first. On the upside, firm break of 0.8864 will extend the rebound from 0.8717 to 0.8924 resistance. Further break there should confirm completion of the choppy decline from 0.8977, and should resume larger rise from 0.8545 through 0.8977 high. However, decisive break of 0.8717 support will resume the decline from 0.8977 instead.

In the bigger picture, outlook remains 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.