Daily Pivots: (S1) 0.8785; (P) 0.8810; (R1) 0.8837; More…

Intraday bias in EUR/GBP stays neutral at this point. With 0.8866 resistance intact, near term outlook remains mildly bearish and deeper fall is expected. Break of 0.8688 will extend the fall from 0.9305 and 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) 0.8742; (P) 0.8791; (R1) 0.8851; More…

Despite steep fall from 0.8909, EUR/GBP is still bounded in range of 0.8686/8928. Intraday bias remains neutral for the moment. And, near term outlook will remain mildly bearish as long as 0.8928 resistance holds. On the downside, firm break of 0.8686 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. Nonetheless, on the upside, break of 0.8928 will indicate near term reversal and turn outlook bullish for 0.9304 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) 0.8669; (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.

Daily Pivots: (S1) 0.8826; (P) 0.8880; (R1) 0.8916; More…

Intraday bias in EUR/GBP remains on the downside at this point. As noted before, rebound from 0.8722 has possibly completed at 0.8939, just ahead of 61.8% retracement of 0.9097 to 0.8722 at 0.8954. Deeper decline would be seen for 0.8722 low first. On the upside, above 0.8864 minor resistance will turn intraday bias neutral first. But further fall is in favor as long as 0.8939 resistance holds.

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.

Daily Pivots: (S1) 0.8612; (P) 0.8632; (R1) 0.8649; More…

EUR/GBP is staying in consolidation from 0.8474 and intraday bias remains neutral first. In case of stronger recovery, upside should be limited by 0.8722 resistance to bring down trend resumption. On the downside, firm break of 0.8474 will resume larger down trend for 0.8416 long term projection next. On the upside, though, sustained break of 0.8722 will suggest near term reversal and bring stronger rise back to 0.8840 resistance and above.

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.

Daily Pivots: (S1) 0.9084; (P) 0.9104; (R1) 0.9127; More…

Sideway consolidations in EUR/GBP continues and intraday bias remains neutral first. Further rally will remain in favor as long as 0.8930 support holds. Above 0.9139 will target 0.9175 resistance. Break will resume whole rebound from 0.8670 low. Nevertheless, break of 0.8930 will bring deeper fall to 0.8864 support and possibly 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) 0.8598; (P) 0.8609; (R1) 0.8623; More…

Intraday bias in EUR/GBP remains neutral for the moment. Further decline is in favor with 0.8638 minor resistance intact. On the downside, break of 0.8585 will resume the fall from 0.8713 to 0.8548 support first. Break there will target 0.8491 low next. However, break of 0.8638 will turn bias 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 0.8764 resistance holds. Break of 0.8491 will target 61.8% projection of 0.8977 to 0.8491 from 0.8764 at 0.8464.

EUR/GBP dipped to 0.8587 last week but quickly recovered. Initial bias remains neutral this week first. Break of 0.8718 minor resistance 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.

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 (2008 high) is expected down the road, as long as 0.8276 support holds.

Daily Pivots: (S1) 0.8399; (P) 0.8428; (R1) 0.8444; More…

EUR/GBP’s fall resumed after brief recovery and intraday bias is back on the downside. Current down trend should target 0.8376 projection level next. For now, risk will remain on the downside as long as 0.8457 resistance holds, in case of another recovery.

In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 100% projection of 0.8764 to 0.8497 from 0.8643 at 0.8376. Sustained break there will target 161.8% projection at 0.8211 next. For now, outlook will remain bearish as long as 0.8643 resistance holds, even in case of stronger rebound.

Daily Pivots: (S1) 0.8339; (P) 0.8363; (R1) 0.8379; More…

EUR/GBP’s fall from 0.8476 is still in progress and intraday bias stays on the downside for retesting 0.8282 low. Sustained break of 0.8276 key long term support will carry larger bearish implication. On the upside, above 0.8411 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). Bullish convergence condition in daily MACD and break of 55 day EMA raises the chance that it might be completed. 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.

Despite rebounding to 0.8529 last week, EUR/GBP quickly lost momentum and reversed. The development now suggests that fall from 0.8786 could be resuming. And focus is back to 0.8303/12 support zone in near term. Overall, price actions form 0.9304 is seen as a corrective pattern that is extending.

Initial bias in EUR/GBP is mildly on the downside this week for 0.8303/12 support zone. Break there will extend the corrective fall from 0.9304 to to 0.8116/20 cluster support. We’d expect strong support from there to bring rebound. On the upside, above 0.8461 minor resistance will turn bias to the upside for 0.8529. Break will resume the rebound from 0.8312 and target 0.8786 resistance.

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.

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 to target 0.9799 high and above.

Daily Pivots: (S1) 0.9054; (P) 0.9092; (R1) 0.9119; More…

EUR/GBP surges to as high as 0.9209 so far. The break of 0.9175 resistance confirms resumption of whole rise form 0.8670. Intraday bias remains on the upside for 100% projection of 0.8670 to 0.9175 from 0.8866 at 0.9371. On the downside,below 0.9130 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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

Daily Pivots: (S1) 0.9008; (P) 0.9031; (R1) 0.9048; More…

Intraday bias in EUR/GBP remains neutral for the moment and outlook is unchanged. Overall, choppy rise from 0.8670 is in favor to continue as long as 0.8861 support holds. On the upside, decisive break of 0.9291 will target 0.9499 high. However, break of 0.8861 will bring deeper fall back to 0.8670 support.

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) 0.8746; (P) 0.8780; (R1) 0.8798; More…

Intraday bias in EUR/GBP remains neutral for consolidation below 0.8879. On the downside, break of 0.8718 support will argue that rise from 0.8312 has completed. In that case, intraday bias with be turned back to the downside for lower side of the range at 0.8312. Meanwhile, break of 0.8879 and sustained trading above 0.8851 will pave the way to retest 0.9304 high.

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) 0.8528; (P) 0.8541; (R1) 0.8557; More…

Intraday bias in EUR/GBP remains neutral for the moment and outlook stays bearish. On the downside, firm break of 0.8517 will resume the whole decline from 0.8977. Next target will be 61.8% projection of 0.8874 to 0.8517 from 0.8650 at 0.8436. On the upside, above 0.8657 resistance will turn bias to the upside for stronger rebound instead.

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 0.8717 support turned resistance holds.

Daily Pivots: (S1) 0.8953; (P) 0.9001; (R1) 0.9079; More

Intraday bias in EUR/GBP remains on the upside for the moment. Current rally from 0.8312 is targeting 0.9304 key resistance level. 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. However, break of 0.8922 support is needed to be the first sign of short term topping. Otherwise, outlook will remain bullish in case of retreat.

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) 0.9030; (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) 0.9107; (P) 0.9128; (R1) 0.9160; More…

Intraday bias in EUR/GBP remains neutral for consolidation below 0.9190 temporary top. Some more consolidations could be seen but downside should be contained above 0.8891 support to bring another rally. On the upside, break of 0.9190 will resume recent rally for 0.9305 key resistance next.

In the bigger picture, current development confirms that corrective fall from 0.9305 (2017 high) has completed with three waves down to 0.8472. And, up trend from 0.6935 (2015 low) is ready to resume. Break of 0.9305 will target 0.9799 (2008 high) and then 61.8% projection of 0.6935 to 0.9305 from 0.8472 at 0.9937. In any case, medium term outlook will remain bullish as long as 0.8472 support holds.

Daily Pivots: (S1) 0.8672; (P) 0.8686; (R1) 0.8711; More….

Intraday bias in EUR/GBP remains on the upside with focus on 0.8700 resistance. Decisive break there carry larger bullish implication and bring stronger rally to 0.8874 resistance next. Nevertheless, rejection by this resistance will maintain bearish outlook that larger down trend is not over. Break of 0.8629 resistance turned support will turn bias back to the downside for 0.8568 support first.

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). Decisive break there will argue that this decline has completed with three waves down to 0.8491. Rise from 0.8491 could then be another leg inside the pattern that targets 0.8977 and above. However, rejection by 0.8700 will keep the down trend alive for another fall through 0.8491 at a later stage.

Daily Pivots: (S1) 0.8784; (P) 0.8824; (R1) 0.8848; More…

Intraday bias in EUR/GBP stays on the downside as fall from 0.8924 is extending. This decline is seen as the third leg of the corrective pattern from 0.8977. Deeper fall should be seen to 0.8753 support and below. But strong support is expected from 0.8720 to contain downside and bring rebound. On the upside, above 0.8862 minor resistance will turn intraday bias neutral again first.

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.