EUR/GBP stayed in consolidation above 0.8396 last week but upside remains capped below 0.8482 support turned resistance. Initial bias stays neutral this week and further decline is expected. On the downside, below 0.8429 minor support will bring retest of 0.8396 low first. Further break there will resume larger down trend to 0.8376 projection level next.

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.

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) 0.8792; (P) 0.8840; (R1) 0.8889; More…

Intraday bias in EUR/GBP remains neutral as it’s staying in range of 0.8732/9032. With 0.9032 resistance intact, deeper decline is mildly in favor in the cross. Break of 0.8732 will resume the decline 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) 0.8871; (P) 0.8895; (R1) 0.8908; More…

Intraday bias in EUR/GBP remains neutral for the moment. The corrective pattern from 0.8957 is in progress and bring of 0.8864 will bring deeper pull back. But still, as long as 0.8815 support holds, near term outlook remains bullish. And larger rally from 0.8620 is expected to resume later. On the upside, decisive break of 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963) should confirm completion of whole decline from 0.9305. EUR/GBP should then target 61.8% retracement at 0.9043 next.

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) 0.8526; (P) 0.8545; (R1) 0.8585; More…

EUR/GBP’s break of 0.8556 resistance suggests that fall form 0.8668 has completed at 0.8448 already. Intraday bias is back on the upside for 0.8668 resistance first. Decisive break there will be a strong sign of near term bullish reversal at least. On the downside, break of 0.8534 resistance turned support will mix up the near term outlook again and turn intraday bias neutral first.

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 0.8718 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) 0.8871; (P) 0.8895; (R1) 0.8908; More…

EUR/GBP dips to 0.8854 but quickly rebounds. As it’s staying below 0.8957 resistance, intraday bias remains neutral first. As long as 0.8815 support holds, outlook remains bearish and further rise is expected in the cross. On the upside, decisive break of 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963) should confirm completion of whole decline from 0.9305. EUR/GBP should then target 61.8% retracement at 0.9043 next.

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) 0.8867; (P) 0.8879; (R1) 0.8888; More…

EUR/GBP’s fall from 0.8977 resumed by breaking through 0.8802 today. The development now argues that whole rebound from 0.8545 has completed. Intraday bias is back on the downside for 0.8720 support first. Break there will bring deeper decline to retest 0.8545. For now, risk will stay on the downside as long as 0.8927 resistance holds, in case of recovery.

In the bigger picture, focus is back on 55 day EMA (now at 0.8804). Sustained trading below there will argue that fall from 0.9267 is in progress. Such decline is seen as a leg inside long term range pattern from 0.9499 (2020 high). Break of 0.8545 will pave the way back to 0.8201 (2022 low).

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.

Daily Pivots: (S1) 0.9144; (P) 0.9198; (R1) 0.9240; More…

Intraday bias in EUR/GBP remains mildly on the downside. Pull back from 0.9324 short term top would extend to 55 day EMA (now at 0.9025). But strong support should be seen in 0.8891/9051 support zone to bring rise resumption. Break of 0.9324 will resume larger up trend.

In the bigger picture, up trend from 0.6935 (2015 low) should be resuming. Sustained break of 0.9305 will confirm and target t 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 0.8891 support holds, in case of deep pull back.

Daily Pivots: (S1) 0.8782; (P) 0.8808; (R1) 0.8825; More…

At this point, intraday bias in EUR/GBP remains neutral at the moment. 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. On the on the downside, break of 0.8732 will resume the fall and target 0.8303 key support level 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) 0.9027; (P) 0.9043; (R1) 0.9066; More

Intraday bias in EUR/GBP remains on the upside for the moment. Current rise from 0.8312 should extend towards 0.9304 key 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. Meanwhile break of 0.8922 support will indicate short term topping and turn bias to the downside for 0.8742 support.

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) 0.8720; (P) 0.8734; (R1) 0.8754; More…

Intraday bias in EUR/GBP remains neutral for the moment. 0.8666/86 is seen as an important support zone that EUR/GBP has just drawn support from. Further rise is mildly in favor. Break of 0.8796 will resume the rebound from 0.8666 and target 61.8% retracement of 0.8967 to 0.8666 at 0.8852 and above. However, decisive break of 0.8666 will resume whole fall from 0.9305 and target 0.8312 key support.

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) 0.8740; (P) 0.8758; (R1) 0.8790; More…

No change in EUR/GBP’s outlook despite diminishing upside momentum. With 0.8711 minor support intact, further rise is expected. Break of 38.2% retracement of 0.9101 to 0.8617 at 0.8802 will target 61.8% retracement at 0.8916. On the downside, break of 0.8711 will turn bias back to the downside for 0.8617/20 support instead.

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 breakout of 0.8620 will pave the way back to 0.8312 support . Break of 0.9101 will bring retest of 0.9304/5 resistance.

Daily Pivots: (S1) 0.8758; (P) 0.8783; (R1) 0.8814; More…

Intraday bias in EUR/GBP stays neutral as rang trading continues, inside 0.8693/8844. 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.

Daily Pivots: (S1) 0.8622; (P) 0.8639; (R1) 0.8648; More….

Break of 0.8629 support indicates resumption of the choppy decline from 0.8704. Intraday bias is back on the downside for 0.8568 support next. Whole rebound form 0.8491 could have completed after rejection by 0.8700 resistance. Break of 0.8568 will bring retest of 0.8491 low. On the upside, though, above 0.8654 minor resistance will turn intraday bias neutral 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 of 0.8700 resistance 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 and 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) 0.9014; (P) 0.9047; (R1) 0.9076; More…

Intraday bias in EUR/GBP remains neutral as consolidation from 0.9175 is extending. On the upside, firm break of 0.9175 resistance will resume whole rise from 0.8670. 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) 0.8499; (P) 0.8527; (R1) 0.8543; More…

EUR/GBP’s breach of 0.8502 suggests that choppy corrective fall from 0.8718 is resuming. Intraday bias is back on the downside for retesting 0.8470 low. On the upside, above 0.8555 minor resistance will turn intraday bias neutral again first. But risk will stay mildly on the downside as long as 0.8668 resistance holds.

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) 0.8840; (P) 0.8953; (R1) 0.9053; More…

EUR/GBP’s consolidation from 0.9267 is still extending and intraday bias stays neutral. Further rally is expected as long as 0.8720 resistance turned support holds. Above 0.9267 will target 0.9499 long term resistance. However, break of 0.8270 support will mix up the near term outlook.

In the bigger picture, rise from 0.8201 is in progress targeting 0.9499 (2020 high) next. Based on current momentum, such rally should be resuming the up trend from 0.6935 (2015 low). Firm break of 0.9499 will target 61.8% projection of 0.6935 to 0.9499 from 0.8201 at 0.9786, which is close to 0.9799 (2008 high). This will now remain the favored case as long as 0.8720 resistance turned support holds.

Daily Pivots: (S1) 0.8960; (P) 0.8983; (R1) 0.9006; More…

Intraday bias in EUR/GBP remains neutral first. As long as 0.8931 resistance turned support holds, further rally is expected in the cross. On the upside, decisive break of 0.9098 resistance will extend the rally from 0.8655 and target 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) 0.8705; (P) 0.8737; (R1) 0.8762; More…

EUR/GBP is staying in consolidation from 0.8786 and intraday bias remains neutral first. Some consolidations could be seen but downside should be contained by 0.8624 support to bring another rally. On the upside, break of 0.8786 will resume larger rise from 0.8201 to 100% projection of 0.8201 to 0.8720 from 0.8338 at 0.8857.

In the bigger picture, current development suggests that the down trend from 0.9499 has (2020 high) has completed at 0.8201. Rise from there is developing into a medium term up trend. Further rally would be seen to 61.8% retracement of 0.9499 to 0.8201 at 0.9003 next. This will now remain the favored case as long as 55 day EMA (now at 0.8545) holds.

Daily Pivots: (S1) 0.9162; (P) 0.9193; (R1) 0.9225; More

At this point, deeper fall is still expected in EUR/GBP with 0.9236 minor resistance intact. Fall from 0.9305 should extend to 55 day EMA (now at 0.9006). Sustained trading below there will likely start the third leg of the consolidation from 0.9304 and target 0.8303 key support again. On the upside, above 0.9236 minor resistance will turn bias back to the upside for 0.9305 instead.

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.