Daily Pivots: (S1) 0.8497; (P) 0.8587; (R1) 0.8640; More…

EUR/GBP drops sharply to as low as 0.8474 so far. The break of 0.8529 confirms resumption of recent decline. Intraday bias is back to the downside for 0.8416 long term projection next. On the upside, break of 0.8676 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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 is now targeting 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) 0.9056; (P) 0.9074; (R1) 0.9092; More…

Intraday bias in EUR/GBP stays neutral at this point and more consolidation could be seen. 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.

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) 0.8557; (P) 0.8599; (R1) 0.8624; More…

EUR/GBP is still stuck in sideway trading and intraday bias remains neutral. 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) 0.8976; (P) 0.9108; (R1) 0.9180; More…

Intraday bias in EUR/GBP remains mildly on the downside 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 0.9275 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) 0.8411; (P) 0.8429; (R1) 0.8446; More…

Intraday bias in EUR/GBP remains neutral first. On the upside, break of 0.8476 will resume the rebound from 0.8282 to 0.8598 resistance. Decisive break there will add to the case of trend reversal and target 38.2% retracement of 0.9499 to 0.8282 at 0.8747 next. However, break of 0.8398 minor support will turn bias back to the downside for retesting 0.8282 low.

In the bigger picture, price actions from 0.9499 (2020 high) are still see 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 and target 61.8% retracement at 0.9034 and above.

Daily Pivots: (S1) 0.8688; (P) 0.8719; (R1) 0.8734; More…

Intraday bias in EUR/GBP remains on the downside. Current decline from 0.9098 should target 0.8620 support first. Break will target 100% projection o f0.9098 to 0.8722 from 0.8939 at 0.8563 next. On the upside, break of 0.8800 minor resistance is needed to indicate short term bottoming. Otherwise, near term outlook will remain bearish in case of recovery.

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) 0.8346; (P) 0.8381; (R1) 0.8401; More…

EUR/GBP’s break of 0.8358 minor support suggests that rebound from 0.8201 has completed at 0.8456, ahead of 0.8476 resistance. Intraday bias is back on the downside for retesting 0.8201 low. Break there will resume larger down trend. On the upside, firm break of 0.8476 structural resistance will carry larger bullish implication and target 0.8598 resistance next.

In the bigger picture, the down trend from 0.9499 is expected to continue as long as 0.8476 resistance holds. Sustained trading below 0.8276 support will argue that the whole up trend from 0.6935 (2015 low) has reversed. Deeper fall should be seen to 61.8% retracement of 0.6935 to 0.9499 at 0.7917 next. However, firm break of 0.8476 will indicate medium term bottoming at least. Focus will be back on 55 week EMA (now at 0.8523) for more evidence of bullish reversal.

Daily Pivots: (S1) 0.8944; (P) 0.8963; (R1) 0.8989; More…

Intraday bias in EUR/GBP stays neutral as consolidation from 0.9030 short term top is extending. Deeper decline cannot be ruled out as the consolidation extends. But downside should be contained by 0.8854 support to bring rally resumption. 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) 0.9069; (P) 0.9138; (R1) 0.9181; More…

EUR/GBP’s pull back from 0.9291 extended lower but it’s staying above 0.9067 support so far. Intraday bias remains neutral first and further rise is still in favor. On the upside, break of 0.9291 will resume the whole rise from 0.8670. Next target is 100% projection of 0.8670 to 0.9175 from 0.8866 at 0.9371 next. However, sustained break of 0.9067 will dampen this bullish view and turn bias to the downside for 0.8866 support instead.

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

Daily Pivots: (S1) 0.8784; (P) 0.8860; (R1) 0.9008; More…

EUR/GBP’s rally accelerates further to as high as 0.9267 so far. There is no sign of topping yet. Intraday bias stays on the upside for 200% projection of 0.8201 to 0.8720 from 0.8338 at 0.9376. Firm break there will target 0.9499 long term resistance. On the downside, below 0.8959 minor support will turn bias neutral and bring consolidations first, before staging another rally.

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) 0.8623; (P) 0.8646; (R1) 0.8669; More…

Outlook in EUR/GBP remains unchanged and intraday bias stays neutral first. Risk remains on the upside as long as 0.8537 support holds. Break of 0.8729 will resume the rebound to 55 day EMA (now at 0.8806). Sustained break there will argue that fall from 0.9291, as the third leg of the pattern from 0.9499, has completed. However, firm break of 0.8537 will resume the decline towards 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.

EUR/GBP’s fall from 0.8764 accelerated to as low as 0.8557 last week. The development suggests that rebound from 0.8491 has completed as a corrective move at 0.8764. Initial bias stays on the downside this week for retesting 0.8491 low first. Firm break there will resume larger down trend. On the upside, touching 0.8634 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, current development suggests that down trend from 0.9267 (2022 high) is still in progress. This decline is now 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.

In the long term picture, long term range pattern from 0.9799 (2008 high) is extending, and is set to continue until further development.

Daily Pivots: (S1) 0.8647; (P) 0.8672; (R1) 0.8710; More…

No change in EUR/GBP’s outlook. Intraday bias stays neutral with focus on 0.8620 key support level. At this point, we’d continue to expect strong support from 0.8620 to contain downside to bring rebound. On the upside, above 0.8725 minor resistance will turn bias to the upside for 0.8763/8862 resistance zone first. However, sustained break of 0.8620 will resume larger decline from 0.9305 and target 100% projection of 0.9305 to 0.8620 from 0.9101 at 0.8416.

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) 0.8643; (P) 0.8673; (R1) 0.8710; More…

Intraday bias in EUR/GBP stays neutral first. On the upside, break of 0.8718 will resume the rebound from 0.8470. Intraday bias will be turned back to the upside for 38.2% retracement of 0.9291 to 0.8470 at 0.8784. On the downside, below 0.8587 minor support will bring retest of 0.8470 low.

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.

Daily Pivots: (S1) 0.8949; (P) 0.8973; (R1) 0.8998; More…

Intraday bias in EUR/GBP remains neutral as range trading continues. Further rise is in favor with 0.8866 minor support intact. On the upside, break of 0.9054 will resume the rebound from 0.8670 and target 61.8% retracement of 0.9499 to 0.8670 at 0.9182. However, firm break of 0.8866 will indicate completion of the rise from 0.8670. Intraday bias will be turned back to the downside for retesting 0.8670 support.

In the bigger picture, while the pull back from 0.9499 is 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) 0.8965; (P) 0.8991; (R1) 0.9037; More…

No change in EUR/GBP’s outlook as it’s staying in consolidation form 0.9175. On the upside, break of 0.9175 will resume larger rise from 0.8670, towards 0.9499 high. However, break of 0.8930 support will also come with firm break of 55 day EMA. That would argue that rebound from 0.8670 has completed. In this case, intraday bias will be turned to the downside for 0.8864 support for confirmation.

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) 0.8751; (P) 0.8800; (R1) 0.8827; More…

Intraday bias in EUR/GBP remains on the downside as this point. Current fall from 0.9097 is in progress for 0.8620 low. Decisive break there will resume whole down trend from 0.9304. In that case, next target will be 100% projection of 0.9305 to 0.8620 from 0.9097 at 0.8412. On the upside, break of 0.8847 support turned resistance is needed to be the first sign of short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Current development suggests that fall from 0.9303, as a down leg in the pattern, is still in progress. But in case of deeper fall, downside should be contained by 0.8116 cluster support, 50% retracement of 0.6935 (2015 low) to 0.9304 at 0.8120, to bring rebound.

Daily Pivots: (S1) 0.8576; (P) 0.8587; (R1) 0.8607; More…

Intraday bias in EUR/GBP stays mildly on the upside at this point. Rebound from 0.8502 would target 0.8657 resistance. 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) 0.8281; (P) 0.8308; (R1) 0.8332; More…

Intraday bias in EUR/GBP remains neutral for the moment. Further decline is still expected as long as 0.8379 resistance holds. Below 0.8248 will target a retest on 0.82101 low. On the upside, however, above 0.8379 minor resistance will turn bias back to the upside. Further break of 0.8511 will reaffirm that 0.8201 is a medium term bottom, and target 0.8697 medium term fibonacci level next.

In the bigger picture, a medium term bottom should be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003. This will remain the favored case as long as 0.8294 support holds.

Daily Pivots: (S1) 0.8988; (P) 0.9024; (R1) 0.9078; More…

EUR/GBP rebounded strongly again but it;’s still bounded in consolidation from 0.9086. Intraday bias stays neutral and outlook remains bullish with 0.8931 support intact. On the upside firm break of 0.9098 resistance will extend the whole rise from 0.8655 to 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.