Daily Pivots: (S1) 0.8639; (P) 0.8667; (R1) 0.8694; More…

Intraday bias in EUR/GBP is turned neutral with current retreat. Another rise is mildly in favor with 0.8620 minor support intact. Break of 0.8696 will resume the rebound from 0.8470 short term bottom, to 38.2% retracement of 0.9291 to 0.8470 at 0.8784. On the downside, however, below 0.8620 minor support will bring retest of 0.8470 support 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.

Daily Pivots: (S1) 0.9004; (P) 0.9032; (R1) 0.9057; More…

Intraday bias in EUR/GBP remains neutral at this point and outlook is unchanged. Correction from 0.9291 could extend lower through 0.9007. But downside should be contained above 0.8866 support to bring rebound. On the upside, break of 0.9148 resistance will suggest completion of the correction. Intraday bias will be turned back to the upside for retesting 0.9291 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) 0.8949; (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) 0.8701; (P) 0.8730; (R1) 0.8753; More…

EUR/GBP dives to as low as 0.8666 today and breached 0.8686 briefly, before recovering. At this point, intraday bias stays on the downside with 0.8757 minor resistance intact, with focus on 0.8686 key support level. We’d be cautious on strong support from there to bring another rebound. But decisive break of 0.8686 will resume whole fall from 0.9305 and target 0.8303 key support next. On the upside, above 0.8757 minor resistance will turn bias back to the upside for recovery to 4 hour 55 EMA (now at 0.8802) and above.

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.

EUR/GBP edged higher to 0.8840 last week but quickly retreated. Initial bias is turned neutral this week first. As long as 0.8728 support holds, further rise is still in favor. On the upside, break of 0.8840 will extend the rebound from 0.8617 to 61.8% retracement of 0.9101 to 0.8617 at 0.8916. Break will pave the way back to 0.9101 key resistance. On the downside, however, firm break of 0.8728 will argue that rebound from 0.8617 has completed. Intraday bias will be turned back to the downside for this low.

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.

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). As long as 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) holds, further rise should be seen through 0.9305 to 0.9799 and above down the road.

EUR/GBP stayed in range of 0.9007/9148 last week and outlook is unchanged. Price actions from 0.9291 are seen as a corrective pattern. Another fall through 0.9007 cannot be ruled out. But downside should be contained above 0.8866 support to bring rebound. On the upside, break of 0.9148 resistance will suggest completion of the correction. Intraday bias will be turned back to the upside for retesting 0.9291 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).

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) 0.9020; (P) 0.9050; (R1) 0.9071; More…

Intraday bias in EUR/GBP stays neutral first. Further decline is expected as long as 0.9162 resistance holds. On the downside, break of 0.9024 will resume the decline from 0.9291 to 0.8866 support. Decisive break there should confirm completion of the whole choppy rebound from 0.8670. Though, break of 0.9126 will likely resume such rebound through 0.9291.

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) 0.8719; (P) 0.8736; (R1) 0.8748; More…

A temporary low is in place at 0.8722 in EUR/GBP with 4 hour MACD crossed above signal line. Intraday bias is turned neutral for consolidation. But outlook will stay bearish as long as 0.8847 support turned resistance holds. Below 0.8722 will extend the decline from 0.9097 for 0.8620 low first. 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.

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) 0.8729; (P) 0.8784; (R1) 0.8821; More…

Intraday bias in EUR/GBP remains neutral at this point, with focus on 61.8% retracement of 0.8282 to 0.9499 at 0.8747. Strong support is still expected and 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) 0.8913; (P) 0.8953; (R1) 0.9018; More…

Intraday bias in EUR/GBP remains neutral first. On the upside, break of 0.9000 resistance will resume the rebound from 0.8670 to 61.8% retracement of 0.9499 to 0.8670 at 0.9182 and above. On the downside, though, below 0.8880 will suggest that the rebound from 0.8670 has completed, and turn bias back to the downside for retesting this low.

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) 0.8582; (P) 0.8607; (R1) 0.8622; More…

Range trading continues in EUR/GBP and intraday bias stays neutral. 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) 0.8797; (P) 0.8817; (R1) 0.8828; More…

EUR/GBP’s decline accelerates to as low as 0.8744 so far. Break of 0.8771 support confirms confirm completion of rebound from 0.8686 at 0.8967. Intraday bias stays on the downside on the downside for retesting 0.8686 key near term support. We’d be cautious on strong support from there to bring another rebound. But decisive break of 0.8686 will resume whole fall from 0.9305 and target 0.8303 key support next. On the upside, above 0.8815 minor resistance will turn bias neutral and bring consolidation first, before staging another fall.

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) 0.8710; (P) 0.8747; (R1) 0.8795; More…

Immediate focus is now on 0.8779 resistance in EUR/GBP. Firm break there argue that corrective fall from 0.9267 has completed at 0.8570. Intraday bias will be back on the upside for 0.8869 first. Break there will bring retest of 0.9267 high. On the downside, break of 0.8570 will resume the fall from 0.9267 and target 0.8201/8388 support zone.

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.

Daily Pivots: (S1) 0.8725; (P) 0.8755; (R1) 0.8813; More…

EUR/GBP rebounded after hitting 0.8693 and drew support from near term channel. But it’s staying in range of 0.8679/8844. Intraday bias remains neutral first. On the upside, break of 0.8844 will resume the rebound from 0.8620. That will also revive the case of larger bullish reversal. EUR/GBP should target 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). On the downside, break of 0.8679 support will indicate completion of the rebound form 0.8620. And intraday bias will be turned back to the downside for this 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) 0.8937; (P) 0.8952; (R1) 0.8982; More…

EUR/GBP rises to as high as 0.9016 so far today. Break of channel resistance indicates upside acceleration. Intraday bias remains on the upside for 61.8% retracement of 0.9305 to 0.8620 at 0.9043. Sustained break there will pave the way to retest 0.9305 high. On the downside, below 0.8969 minor support will turn intraday bias neutral first. But retreat should be contained well above 0.8845 support to bring another rally.

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) 0.8496; (P) 0.8519; (R1) 0.8536; More….

Intraday bias in EURGBP remains neutral and some more sideway consolidations could be seen. Further decline is expected as long as 55 D EMA (now at 0.8553) holds. Decisive break of 0.8491/7 will resume larger down trend to 0.8376 projection level next. However, sustained break of 55 D EMA will turn bias back to the upside for 0.9643 resistance instead.

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) 0.8769; (P) 0.8785; (R1) 0.8813; More…

EUR/GBP’s strong rebound and break of near term falling channel revives the bullish case. Intraday bias is back on the upside for 0.8844 resistance first. Break will resume whole rebound from 0.8620 and target 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). Decisive break there will confirm medium term reversal. However, below 0.8755 minor support will turn bias neutral and mix up the near term outlook again.

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) 0.8736; (P) 0.8773; (R1) 0.8792; More…

3The break of 0.8760 support suggests that rebound from 0.8620 is likely finished at 0.8844. The three wave corrective structure in turns argue that larger decline from 0.9305 is not completed yet. Intraday bias is turned back tot he downside for 0.8679 support first. Break will affirm this bearish case and target 0.8620 and below. On the upside, break of 0.8844 is now needed to revive the bullish case of reversal. Otherwise, outlook is now bearish even in case of recovery.

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) 0.8482; (P) 0.8508; (R1) 0.8523; More…

EUR/GBP’s break of 0.8454 support suggests that corrective rise from 0.8726 has completed at 0.8595 already. Intraday bias is turned back to the downside for retesting 0.8726 low first. Break will resume larger down trend from 0.9324. On the upside, break of 0.8595 is needed to confirm resumption of the rebound. Otherwise, risk will stay on the downside in case of recovery.

In the bigger picture, decline from 0.9324 medium term top is till 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.

EUR/GBP’s strong break of 0.8421 resistance last weeks argues that a medium term bottom was formed at 0.8282, on bullish convergence condition in daily MACD, ahead of 0.8276 key long term support. Initial bias remains on the upside this week for 0.8598 resistance next. 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. On the downside, below 0.8398 minor support will turn intraday bias neutral first.

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).

In the long term picture, outlook will stay bullish as long as 0.8276 support holds. Break of 0.9499 is in favor at a later stage, to resume the up trend from 0.6935 (2015 low). However, sustained break of 0.8276 will indicate long term trend reversal, and target 61.8% retracement of 0.6935 to 0.9499 at 0.7917, and possibly below.