Daily Pivots: (S1) 0.8894; (P) 0.8907; (R1) 0.8923; More…

With 0.8829 minor support intact, further rise is expected in EUR/GBP despite diminishing upside momentum. Current rally from 0.8472 should target 0.9101 key resistance. Considering bearish divergence condition in 4 hour MACD, we’d be cautious on strong resistance from there to limit upside to bring pullback. On the downside, though, break of 0.8829 support will indicate short term topping and bring lengthier consolidation before staging another rise.

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) 0.8909; (P) 0.8934; (R1) 0.8953; More…

Intraday bias in EUR/GBP remains neutral for consolidation below 0.8957 temporary top. For now, as long as 0.8815 support holds, further rally is expected in the cross. Sustained 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) 0.8943; (P) 0.8976; (R1) 0.9022; More…

Intraday bias in EUR/GBP remains neutral at this point as it’s still bounded in range of 0.8866/9004.On the upside, break of 0.9004 resistance will suggest that pull back from 0.9291 has completed. Also, with 0.8866 support intact, rise from 0.8276 isn’t over. Intraday bias will be turned back to the upside for 0.9291 resistance in this case. On the downside, however, sustained break of 0.8866 will extend the pattern from 0.9499 with another falling leg to 0.8670 and possibly below.

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).

EUR/GBP edged higher to 0.8939 last week but reversed and fell sharply since then. Initial bias stays on the downside this week for 0.8722 support first. Break will resume the whole fall from 0.9097 and target 0.8620 support next. On the upside, above 0.8864 minor resistance will turn intraday bias neutral first. But another fall is in favor as long as 0.8804 minor resistance holds.

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.

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) 0.8569; (P) 0.8593; (R1) 0.8637; More…

Intraday bias in EUR/GBP remains on the upside at this point. Fall from 0.8764 has probably completed already. Further rally would be seen to medium term trend line resistance (now at 0.8650). On the downside, below 0.8596 minor resistance will turn intraday bias neutral again first.

In the bigger picture, outlook is mixed up by current strong rebound. On the upside, sustained break of the trend medium term trend resistance will argue that the down trend from 0.9267 (2022 high) has completed as a triangle pattern. Further rise should then be seen through 0.8764 resistance next. However, rejection by the trend line will retain medium term bearishness for another fall through 0.8491 at a later stage.

Daily Pivots: (S1) 0.9035; (P) 0.9051; (R1) 0.9074; More…

EUR/GBP’s rally extends to as high as 0.9073 so far today. Intraday bias remains on the upside for the moment. Sustained trading above 61.8% retracement of 0.9305 to 0.8620 at 0.9043 will pave the way to retest 0.9305 key resistance. On the downside, below 0.9033 minor support will turn bias neutral and bring consolidations. But near term outlook will stay bullish as long as 0.8895 support holds.

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) 0.8943; (P) 0.8973; (R1) 0.8997; More…

Intraday bias in EUR/GBP remains neutral at this point. The consolidation from 0.9030 is still in progress. Another fall cannot be ruled out 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) 0.9203; (P) 0.9235; (R1) 0.9269; More…

Intraday bias in EUR/GBP remains neutral for consolidation below 0.9291 temporary top. In case of deeper retreat, downside should be contained above 0.9067 minor support to bring another rally. 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 first.

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) 0.8640; (P) 0.8661; (R1) 0.8691; More…

EUR/GBP lost downside momentum well ahead of 0.8570 support, as seen in 4 hour MACD. Intraday bias is turned neutral again first. On the downside, firm break of 0.8570 will resume the whole decline form 0.9267, towards 0.8338 support. On the upside, above 0.8827 will resume the rebound from 0.8570 and flip bias back to the upside instead.

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) 0.8647; (P) 0.8685; (R1) 0.8705; More….

Price actions from 0.8752 are seen as correcting whole rally from 0.8491. Intraday bias stays mildly on the downside for 38.2% retracement of 0.8491 to 0.8752 at 0.8652 and below. But downside should be contained by 0.8614 support to bring rebound.

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) 0.8930; (P) 0.8966; (R1) 0.8985; More…

EUR/GBP is staying in range of 0.8866/9004 and intraday bias remains neutral. On the upside, break of 0.9004 resistance will suggest that pull back from 0.9291 has completed. Also, with 0.8866 support intact, rise from 0.8276 isn’t over. Intraday bias will be turned back to the upside for 0.9291 resistance in this case. On the downside, however, sustained break of 0.8866 will extend the pattern from 0.9499 with another falling leg to 0.8670 and possibly below.

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) 0.8512; (P) 0.8545; (R1) 0.8565; More…

Intraday bias in EUR/GBP stays mildly on the downside at this point. Deeper fall would be seen to retest 0.8491 low. Firm break there will resume larger down trend. On the upside, above 0.8609 resistance will bring another rebound. But in any case, outlook will stay bearish as long as 0.8667 resistance holds.

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). Further decline is in favor as long as 0.8667 resistance holds. Break of 0.8491 will resume the fall towards 0.8201 (2022 low).

EUR/GBP couldn’t break through 0.8570 support despite last week’s decline. Immediate focus remains on this support this week. Firm break there will resume the fall from 0.9267 and target 61.8% projection of 0.9267 to 0.8570 from 0.8827 at 0.8369. On the upside, above 0.8634 minor resistance will turn bias back to the upside for recovery. But outlook will stay bearish as long as 0.8827 resistance holds.

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 0.8827 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.

In the long term picture, long term range pattern is extending. But rise from 0.6935 (2015 low) is expected to extend at a later stage, to 0.9799 (2009 high).

Daily Pivots: (S1) 0.8935; (P) 0.8953; (R1) 0.8967; More…

No change in EUR/GBP’s outlook as fall from 0.9175 is in progress for 0.8864 support. Break should confirm completion of whole rebound from 0.8670. In this case, deeper fall would be seen back to 0.8670 low. On the upside, however, break of 0.9067 minor resistance will turn intraday bias back to the upside for 61.8% retracement of 0.9499 to 0.8670 at 0.9182 instead.

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.

EUR/GBP edged higher last week but quickly retreated back into familiar range. Initial bias remains neutral this week first. On the upside, above 0.8456 will target 0.8476 structural resistance first. Firm break there will carry larger bullish implication and target 0.8598 resistance next. However, on the downside, break of 0.8315 minor support will retain near term bearishness, and bring retest of 0.8201 low.

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.

In the long term picture, current development argues that fall from 0.9499 is probably the third leg of the pattern from 0.9799 (2008 high). Sustained break of 61.8% retracement of 0.6935 to 0.9499 at 0.7917 will pave the way back to 0.6935 (2015 low) and probably below.

Daily Pivots: (S1) 0.8893; (P) 0.8934; (R1) 0.8959; More…

Intraday bias in EUR/GBP stays on the downside at this point. Choppy rebound from 0.8670 should have already completed at 0.9175. Deeper fall would be seen to 0.8864 support first. Break there should confirm this bearish case and target 0.8670 and below. On the upside, though, break of 0.8974 resistance will turn intraday bias neutral first.

In the bigger picture, at this point, we’s 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) 0.8330; (P) 0.8351; (R1) 0.8368; More…

No change in EUR/GBP’s outlook as further decline is expected as long as 0.8417 resistance holds. Current fall is part of the larger down trend from 0.9499. Further decline would be seen to 0.8276 key long term support. On the upside, above 0.8417 minor resistance will turn bias back to the upside for stronger rebound.

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 0.8598 resistance holds, towards long term support at 0.8276. We’d look for bottoming signal around there to bring reversal. Meanwhile, firm break of 0.8598 will now be an early sign of medium term bottoming and bring stronger rebound. However, sustained break of 0.8276 will argue that the long term trend has reversed.

EUR/GBP recovered after hitting 0.8866 support again last week but stayed in range below 0.9054. Initial bias remains neutral this week first and further rise is in favor. 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.

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). Decisive break of 0.9799 will target 100% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

EUR/GBP edged higher to 0.8967 last week but subsequent fall dampened the bullish view. Initial bias is back on the downside this week for 0.8771 support. Break there will confirm completion of rebound from 0.8686 and target a retest of this low. On the upside, break of 0.8967 will resume the rebound from 0.8686 to 61.8% retracement of 0.9305 to 0.8686 at 0.9069.

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.

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.