Daily Pivots: (S1) 0.8482; (P) 0.8510; (R1) 0.8550; More…

Intraday bias in EUR/GBP remains neutral for the moment. As noted before, corrective rise from 0.8303 should have completed at 0.8851 already. Break of 0.8449 support should confirm our bearish view and bring resumption of whole corrective fall from 0.9304. In that case, next target is 0.8116 cluster support. However, break of 0.8650 will turn focus back to 0.8851 instead.

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).

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Daily Pivots: (S1) 0.8553; (P) 0.8566; (R1) 0.8587; More…

EUR/GBP’s rebound from 0.8502 extends higher today and break of 0.8583 resistance indicates short term bottoming. Intraday bias is back on the upside for 0.8657 resistance next. Considering bullish convergence condition in 4H and D MACD, firm break of 0.8657 will be a sign of bullish trend reversal. On the downside, break of 0.8502 will resume the whole decline from 0.8977 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 0.8657 resistance holds.

Daily Pivots: (S1) 0.8926; (P) 0.8963; (R1) 0.9004; More…

EUR/GBP’s rebound from 0.8786 accelerated to high as 0.8999 and hit 38.2% retracement of 0.9324 to 0.8786 at 0.8992. Intraday bias stays on the upside. Sustained break of 0.8992 will bring stronger rise to 61.8% retracement at 0.9118 and above. On the downside, break of 0.8923 minor support will turn bias back to the downside for retesting 0.8786 low.

In the bigger picture, the failure to sustain above 0.9305 (2017 high) suggests that consolidation from there is extending. Breach of 0.8472 cannot be ruled out but downside should be contained by 38.2% retracement of 0.6935 (2015 low) to 0.9305 at 0.8400. On the upside, firm break of 0.9327 will confirm up trend resumption.

Daily Pivots: (S1) 0.8649; (P) 0.8672; (R1) 0.8695; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the upside, firm break of 0.8720 resistance will indicate resumption of whole rise from 0.8201. Intraday bias will be back on the upside for 100% projection of 0.8201 to 0.8720 from 0.8338 at 0.8857. On the downside, however, break of 0.8565 support will indicate rejection by 0.8720 and turn bias back to the downside.

In the bigger picture, focus is back on 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will argue that rise from 0.8201 is a medium term up trend, rather than a correction. Next target is 61.8% retracement at 0.9003. Rejection by 0.8697 again will maintain medium term bearishness, for extending the down trend from 0.9499 (2020 high) at a later stage.

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.

Daily Pivots: (S1) 0.8657; (P) 0.8688; (R1) 0.8707; More…

EUR/GBP’s fall from 0.8977 is trying to resume by breaking 0.8660 support. Intraday bias is back on the downside for 100% projection of 0.8977 to 0.8717 from 0.8874 at 0.8614. On the upside, however, break of 0.8717 will indicate short term bottoming, and 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) 0.8612; (P) 0.8636; (R1) 0.8653; More…

Intraday bias in EUR/GBP stays neutral with focus on 0.8619 minor support. Strong rebound from there and decisive break of 0.8717 support turned resistance will solidify that fall from 0.8977 has completed a five-wave decline. Further rally should then be seen to 0.8977 resistance next. On the downside, though, below 0.8619 minor support will mix up the outlook and turn bias back to the downside for retesting 0.8502 low.

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, break of 0.8502 will resume the decline towards 0.8201 (2022 low).

Daily Pivots: (S1) 0.8569; (P) 0.8589; (R1) 0.8605; More…

EUR/GBP dips mildly mildly today but stays in established range. Outlook is unchanged. 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) 0.8430; (P) 0.8444; (R1) 0.8473; More…

The break of 0.8461 minor resistance suggests that pull back from 0.8529 is completed at 0.8404. Intraday bias is turned back to the upside for 0.8529. Break there will resume the rebound from 0.8312 towards 0.8786 resistance. On the downside, below 0.8404 will turn focus back to 0.8303 low instead. Overall, price actions form 0.9304 are seen as a corrective pattern and is extending.

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) 0.8718; (P) 0.8737; (R1) 0.8758; More….

Focus stays on 0.8752 resistance in EUR/GBP. Decisive break there will resume larger up trend and target 0.8874 resistance next. On the downside, below 0.8715 minor support will extend the corrective pattern from 0.8752 with another falling leg before completion. But in this case, downside should be contained by 0.8648 support.

In the bigger picture, current development suggests that whole down trend from 0.9267 (2022 high) has completed with three down to to 0.8491. Rise from 0.8491 is seen as another leg inside that pattern from 0.9499 (2020 high). Further rally should be seen to 0.8977 resistance and above. This will remain the favored case as long as 0.8614 support holds.

Daily Pivots: (S1) 0.8450; (P) 0.8484; (R1) 0.8512; More…

EUR/GBP is still staying in range of 0.8451/8591 and intraday bias remains neutral first. On the downside, below 0.8451 will bring retest of 0.8276 low. On the upside, break of 0.8591 will extend the rebound form 0.8276 to 38.2% retracement of 0.9324 to 0.8276 at 0.8676.

In the bigger picture, rise from 0.6935 (2015 low) should have completed at 0.9324 already. As long as 0.8786 support turned resistance holds, further decline is expected. Next target is 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 turn focus back to this high.

Daily Pivots: (S1) 0.8470; (P) 0.8484; (R1) 0.8508; More…

Intraday bias in EUR/GBP remains neutral as consolidation pattern from 0.8276 is extending. Rise from 0.8386 might extend to 0.8595 resistance. Break there will target 38.2% retracement of 0.9324 to 0.8276 at 0.8676. On the downside, break of 0.8386 will bring retest of 0.8276 low instead.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8786 support turned resistance 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 turn focus back to this high.

Daily Pivots: (S1) 0.8527; (P) 0.8541; (R1) 0.8553; More…

Intraday bias in EUR/GBP is turned neutral with current recovery. Some consolidations would be seen above 0.8529 temporary low. But further decline is expected as long as 0.8582 resistance holds. Below 0.8529 will target 0.8491/7 support zone.

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.

Daily Pivots: (S1) 0.8783; (P) 0.8801; (R1) 0.8823; More…

No change in EUR/GBP’s outlook as range trading continues. 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) 0.8602; (P) 0.8621; (R1) 0.8644; More….

EUR/GBP’s rise from 0.8548 resumes today and the break of 0.8648 support turned resistance argues that fall from 0.8764 might have completed already. Intraday bias is now on the upside for stronger rebound towards 0.8764 resistance. On the downside, though, break of 0.8597 minor support will bring retest of 0.8548 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) 0.8768; (P) 0.8794; (R1) 0.8816; More…

EUR/GBP is losing some upside momentum as seen in 4 hour MACD. But with 0.8726 minor support intact, further rise is mildly in favor. Firm 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 0.8726 minor support 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) 0.8873; (P) 0.8892; (R1) 0.8920; 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) 0.8877; (P) 0.8903; (R1) 0.8938; More…

EUR/GBP is losing some upside momentum as seen in 4 hour MACD. But further rise is expected as long as 0.8824 support holds. Decisive break of 0.8939 resistance will pave the way to 0.9098 high. However, break of 0.8824 will now suggest completion of the rebound from 0.8655. Intraday bias will be turned back to the downside instead.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Medium term fall from 0.9305 is possibly in progress and could extend through 0.8620. On the upside, break of 0.8939 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain cautiously bearish even in case of rebound.

EUR/GBP’s pull back from 0.8994 extended lower last week. While it’s deep, the structure still suggests that it’s a correction. Thus we’re holding on to the view that pull back from 0.9097 has completed at 0.8847 already. Initial bias stays neutral this week first. On the upside, break of 0.8994 will target a test on 0.9097 high. Firm break there will resume the rise from 0.8620 towards 0.9305 high.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, 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.

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) 0.8598; (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.