Daily Pivots: (S1) 0.8828; (P) 0.8851; (R1) 0.8877; More…

Intraday bias in EUR/GBP remains neutral for the moment. Further rally is expected as long as 0.8720 support holds. On the upside, break of 0.8977 will resume whole rebound from 0.8545 towards 0.9267 high. On the downside, however, break of 0.8270 will turn near term outlook bearish again.

In the bigger picture, the notable support from 55 day EMA (now at 0.8780) retains near term bullishness. Break of 0.8896 should target 0.9267 (2022 high) and possibly above, to resume whole up trend from 0.8201 (2022 low). However, break of 0.8270 support and sustained trading below 55 day EMA will set the stage for 0.8545 and below.

Daily Pivots: (S1) 0.8679; (P) 0.8707; (R1) 0.8752; More…

Intraday bias in EUR/GBP is neutral for consolidation above 0.8660. Still, current decline from 0.8977 is in favor to continue as the consolidation completes. Break of 0.8660 will target 100% projection of 0.8977 to 0.8717 from 0.8874 at 0.8614. Firm break there will pave the way to 161.8% projection at 0.8453.

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 to 0.8338 support, or further to 0.8201. This will now remain the favored case as long as 0.8874 resistance holds.

Daily Pivots: (S1) 0.8700; (P) 0.8677; (R1) 0.8712; More…

Intraday bias in EUR/GBP remains on the downside as fall from 0.8967 is in progress. 61.8% projection of 0.9305 to 0.8745 from 0.8967 at 0.8621 is first target. Sustained break there will pave the way to 100% projection at 0.8407. On the upside, above 0.8670 minor resistance will turn intraday bias neutral first. But outlook will now stay bearish as long as 0.8796 resistance holds.

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) 0.8688; (P) 0.8719; (R1) 0.8734; More…

Intraday bias in EUR/GBP is turned neutral with 4 hour MACD crossed above signal line. Some consolidations would be seen first. But as long as 0.8800 minor resistance holds, another fall is expected. Break of 0.8690 will extend whole fall from 0.9098 to 0.8620 support first. Break will target 100% projection of 0.9098 to 0.8722 from 0.8939 at 0.8563 next. However, break of 0.8800 will turn focus back to 0.8939 resistance instead.

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) 0.8579; (P) 0.8600; (R1) 0.8611; More…

EUR/GBP’s fall from 0.8713 is still in progress and intraday bias stays on the downside for retesting 0.8548 support. Firm break there will target 0.8491 low next. On the upside, above 0.8638 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 0.8713 resistance holds, in case of recovery.

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.

Daily Pivots: (S1) 0.8574; (P) 0.8637; (R1) 0.8688; More…

Intraday bias in EUR/GBP stays neutral first. Break of 0.8570 will resume the decline from 0.9267. Next target is 61.8% projection of 0.9267 to 0.8570 from 0.8827 at 0.8369. For now risk will stay on the downside as long as 0.8827 resistance holds, in case of recovery.

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. Nevertheless, firm break of 0.8869 resistance will turn favor to the case that such decline is merely a correction in the up trend from 0.8201. That is, further rally would be seen at a later stage through 0.9267.

Daily Pivots: (S1) 0.8912; (P) 0.8933; (R1) 0.8971; More…

EUR/GBP’s rally continues today and reaches as high as 0.8974 so far. Break of trendline in 4 hour MACD suggests upside re-acceleration. Intraday bias stays on the upside for 0.9101 key resistance next. Decisive break there will carry larger bullish implications. On the downside, break of 0.8871 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, medium term decline from 0.9305 (2017 high) is seen as a corrective move. No change in this view. Current development argues that it might have completed with three waves down to 0.8472, just ahead of 38.2% retracement of 0.6935 (2015 low) to 0.9306 at 0.8400, after hitting 55 month EMA (now at 0.8527). Decisive break of 0.9101 resistance will confirm this bullish case. Nevertheless, as EUR/GBP is still staying inside long term falling channel, correction from 0.9305 could still extend to 0.8400 fibonacci level before completion, if upside is rejected by 0.9101.

Daily Pivots: (S1) 0.8563; (P) 0.8585; (R1) 0.8619; More…

Outlook in EUR/GBP is unchanged and intraday bias remains 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, above 0.8618 minor resistance will turn bias back to the upside for 0.8700, and possibly further to 0.8717 key support turned resistance.

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) 0.9118; (P) 0.9141; (R1) 0.9159; More

No change in EUR/GBP’s outlook. With 0.9225 minor resistance intact, deeper fall is expected to target 55 day EMA (now at 0.9019). 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 0.9225 minor resistance 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.

Daily Pivots: (S1) 0.8889; (P) 0.8905; (R1) 0.8929; More…

EUR/GBP recovers strongly after hitting 0.8864. But upside is limited well below 0.8957 so far. Intraday bias stays neutral first. Overall, while correction from 0.8957 may extend, as long as 0.8815 support holds, larger rally is expected to continue. 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) 0.9027; (P) 0.9051; (R1) 0.9095; More

Intraday bias in EUR/GBP remains neutral for consolidation below 0.9087 temporary top. While another retreat cannot be ruled out, further is still expected as long as 0.8890 support holds. Above 0.9087 will extend the rebound from 0.8312 to 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. On the downside, break of 0.8890 will be the first indication of near term reversal. In such case, intraday bias will be turned back to the downside for 0.8742 support for confirmation.

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) 0.8741; (P) 0.8763; (R1) 0.8800; More…

Intraday bias in EUR/GBP stays neutral for the moment. And near term outlook is a bit mixed. On the downside, break of 0.8679 support should confirm completion of the rebound form 0.8620. And intraday bias will be turned back to the downside for this support. Whole decline from 0.9305 will likely be resuming too. On the upside, above 0.8844 will resume the rebound from 0.8620 and target 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963).

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) 0.8531; (P) 0.8538; (R1) 0.8550; More…

Intraday bias in EUR/GBP remains neutral as consolidation continues above 0.8512 support. Further decline is expected with 0.8591 resistance intact. On the downside, below 0.8512 will resume the fall from 0.8713 to 0.8491, and then 0.8464 projection level. However, firm break of 0.8591 will turn bias back 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 0.8713 resistance holds. Break of 0.8491 will target 61.8% projection of 0.8977 to 0.8491 from 0.8764 at 0.8464.

Daily Pivots: (S1) 0.8793; (P) 0.8820; (R1) 0.8849; More…

Intraday bias in EUR/GBP remains mildly on the downside for 0.8745 support. Break will resume whole fall from 0.9305 and target 0.8303 key support level. On the upside, above 0.8900 minor resistance will extend the corrective pattern from 0.8745 with another rise. But upside should be limited by 61.8% retracement of 0.9305 to 0.8745 at 0.9091 to bring fall resumption eventually.

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 another 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) 0.8325; (P) 0.8340; (R1) 0.8353; More…

Intraday bias in EUR/GBP stays neutral for the moment. On the downside, break of 0.8294 will argue that rebound from 0.8201 has completed at 0.8511, and revive near term bearishness. Intraday bias will be back on the downside for retesting 0.8201 low. On the upside, however, 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) 0.8565; (P) 0.8588; (R1) 0.8607; More…

Range trading continues in EUR/GBP and intraday bias remains neutral. Further rise is expected as long as 0.8484 support holds. 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) 0.8741; (P) 0.8763; (R1) 0.8784; More…

Intraday bias in EUR/GBP remains neutral as range trading continues inside 0.8712/8844. 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) first. However, break of 0.8679 minor support should completion of the rebound form 0.8620. And intraday bias will be turned back to the downside for this support. Whole decline from 0.9305 will likely be resuming too.

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) 0.8758; (P) 0.8804; (R1) 0.8847; More…

Intraday bias in EUR/GBP remains neutral for the moment. Rise from 0.8303 is seen as a corrective move, the second leg of consolidation pattern from 0.9304. In case of another rise, break of 61.8% retracement of 0.9304 to 0.8303 at 0.8922 would be seen. But we’ll be cautious on topping above 0.8922. On the downside, break of 0.8449 will likely start the third leg through 0.8303 low.

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 around 55 weeks EMA (now at 0.8260) 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) 0.9054; (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) 0.8605; (P) 0.8621; (R1) 0.8647; More…

EUR/GBP is staying in consolidation from 0.8575 temporary low and intraday bias remains neutral. In case of stronger recovery, upside should be limited by 0.8811 resistance. On the downside, break of 0.8575 will resume the fall from 0.9324 and target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 0.8472 key support.

In the bigger picture, we’re now seeing 0.9324 as a medium term top on bearish divergence condition in weekly MACD. Price actions from there should develop into a corrective pattern. Deeper fall should be seen back to 38.2% retracement of 0.6935 to 0.9324 at 0.8411 but strong support should be seen there, at least on first attempt, to bring rebound. On the upside, break of 0.9324 is needed to confirm up trend resumption. Otherwise, risk will stay on the downside even in case of strong rebound.