Daily Pivots: (S1) 0.8606; (P) 0.8642; (R1) 0.8675; 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) 0.8805; (P) 0.8815; (R1) 0.8833; More…

Outlook in EUR/GBP remains unchanged and intraday bias stays neutral first. On the downside, firm break of 100% projection of 0.9291 to 0.8861 from 0.9229 at 0.8799 will indicate downside acceleration for 0.8670 support, as part of the corrective pattern from 0.9499. However, break of 0.8917 will indicate short term bottoming, and turn bias to the upside for stronger rebound.

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

Daily Pivots: (S1) 0.8972; (P) 0.8983; (R1) 0.9002; More…

EUR/GBP’s break of 0.9000 suggests resumption of rebound from 0.8670. Intraday bias is back on the upside for 61.8% retracement of 0.9499 to 0.8670 at 0.9182 and above. For now, break of 0.8880 support is needed to indicate completion of the rebound. Otherwise, further rise will remain in favor in case of retreat.

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) 0.8475; (P) 0.8487; (R1) 0.8500; More…

Intraday bias in EUR/GBP remains neutral for consolidation above 0.8471 temporary low. Further decline is expected as long as 55 day EMA (now at 0.8543) holds. On the downside, below 0.8471 will resume the fall from 0.8656 to retest 0.8448 low. Firm break there resume larger down trend from 0.9499, towards 0.8276 key support.

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 0.8668 resistance holds, towards long term support at 0.8276. However, firm break of 0.8668 resistance would argue that a medium term bottom was already formed. Stronger rise would be seen to 0.8861 support turned resistance to confirm completion of the corrective pattern.

Daily Pivots: (S1) 0.8710; (P) 0.8719; (R1) 0.8732; More….

Intraday bias in EUR/GBP stays neutral at this point. Consolidation from 0.8739 might still extend. But downside of retreat should be contained well above 0.8614 support to bring another rally. Firm break of 0.8739 will target 100% projection of 0.8491 to 0.8704 from 0.8614 at 0.8827 next.

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 now remain the favored case as long as 0.8614 support holds.

EUR/GBP’s corrective fall extended to as low as 0.8604 last week and took out 38.2% retracement of 0.8402 to 0.8786 at 0.8639. The decline was deeper than expected but the cross quickly recovered after drawing support from 55 day EMA. The development mixed up the near term outlook a bit. But overall, there is no change in the view that price actions from 0.8303 are forming a corrective pattern, as the second leg of the correction from 0.9304. The question is what exact pattern it’s turning out to be. Decline from 0.9304 is expected to resume later.

Initial bias in EUR/GBP stays neutral this week first. With 0.8699 minor resistance intact, deeper decline is mildly in favor. Below 0.8604 will target 61.8% of 0.8402 to 0.8786 at 0.8549 and possibly below. In that case, we’ll look for support above to 0.8402 to bring another rebound before completing that correction from 0.8303. ON the upside, above 0.8699 will turn bias back to the upside for 0.8786. Break will target 61.8% retracement of 0.9304 to 0.8303 at 0.8922 to finish the pattern from 0.8303.

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).

In the long term picture, firstly, price action from 0.9799 is seen as a long term corrective pattern and should have completed at 0.6935. Secondly, rise from 0.6935 is likely resuming up trend from 0.5680 (2000 low). Thirdly, this is supported by the impulsive structure of the rise from 0.6935 to 0.9304. Hence, after the consolidation from 0.9304 completes, we’d expect another medium term up trend to target 0.9799 high and above.

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

EUR?GBP’s rebound from 0.8470 resumes by breaking through 0.8696 temporary top. Intraday bias is back on the upside for 38.2% retracement of 0.9291 to 0.8470 at 0.8784. Sustained break there will raise the chance that whole pattern from 0.9499 has completed with three waves down to 0.8470. Stronger rise would then be seen back to 61.8% retracement at 0.8977 next. On the downside, however, break of 0.8638 minor support will turn bias back to the downside for retesting 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) 0.8720; (P) 0.8756; (R1) 0.8780; More…

EUR/GBP’s decline continues today and reaches as low as 0.8722 so far. Intraday bias remains on the downside for 0.8620 low next. 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, above 0.8759 minor resistance will turn intraday bias neutral first. But outlook will stay bearish as long as 0.8847 support turned resistance holds, even in case of strong 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.

EUR/GBP gyrated inside range of 0.8712/8844 last week and outlook is unchanged, staying mixed. Initial bias remains neutral this week 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 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.

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) 0.8441; (P) 0.8450; (R1) 0.8462; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the upside, sustained trading above 55 D EMA (now at 0.8501) will extend the rise from 0.8396 short term bottom to 0.8529 support turned resistance. Nevertheless, On the downside, break of 0.8493 support will suggest that the corrective recovery has completed. Intraday bias will be back on the downside for retesting of 0.8396 low. Firm break there will resume larger down trend.

In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 100% projection of 0.8764 to 0.8497 from 0.8643 at 0.8376. Sustained break there will target 161.8% projection at 0.8211 next. For now, outlook will remain bearish as long as 0.8643 resistance holds, even in case of stronger rebound.

Daily Pivots: (S1) 0.8424; (P) 0.8447; (R1) 0.8488; More…

Intraday bias in EUR/GBP remains on the upside at this point. Further rally should be seen to 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.

EUR/GBP surged to as high as 0.9086 last week but failed to take out 0.9098 resistance, and turned into consolidation. Initial bias remains neutral this week first. As long as 0.8931 resistance turned support holds, further rise is expected. Decisive break of 0.9098 resistance will extend the rally from 0.8655 and target 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.

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.

EUR/GBP continued to stay in range below 0.8718 resistance last week. Initial bias is neutral this week but further rise is now in favor as long as 0.8622 support holds. Above 0.8718 will resume the rebound from 0.8470 for 38.2% retracement of 0.9291 to 0.8470 at 0.8784. Sustained break there will affirm the case that whole pattern from 0.9499 has completed, and turn outlook bullish. However, break of 0.8622 support will bring retest of 0.8470 low 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.

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) 0.8411; (P) 0.8435; (R1) 0.8450; More…

EUR/GBP is staying in range trading and intraday bias remains neutral first. Corrective pattern from 0.8276 is probably not completed yet. On the upside, break of 0.8595 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) 0.8945; (P) 0.8964; (R1) 0.8990; More…

EUR/GBP’s rally should have resumed by breaking 0.8974 resistance. Intraday bias is back on the upside. Current rally from 0.8472 is in progress for 0.9101 key resistance next. On the downside, break of 0.8872 support is needed to indicate short term topping. Otherwise, near term 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) 0.9004; (P) 0.9071; (R1) 0.9111; More…

Intraday bias in EUR/GBP remains mildly on the downside at this point. Consolidation pattern from 0.9175 is extending with another falling leg. Deeper fall would be seen to 0.8930 support. Break will target 0.8864. On the upside, above 0.9139 will target 0.9175 resistance. Break will resume whole rebound from 0.8670 low.

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 lower to 0.8857 last week but turned into sideway trading since then. Initial bias remains neutral this week first. At this point, price actions from 0.8745 are viewed as a corrective pattern. As long as 61.8% retracement of 0.9305 to 0.8745 at 0.9091 holds, deeper fall is in favor. Below 0.8857 minor support will turn bias to the downside. Further break of 0.8745 will resume whole decline form 0.9305 and target 0.8303 key support level. Nonetheless, sustained break of 0.9091 will bring retest of 0.9305 instead.

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.

In the long term picture, firstly, price action from 0.9799 (2008 high) is seen as a long term corrective pattern and should have completed at 0.6935 (2015 low). Secondly, rise from 0.6935 is likely resuming up trend from 0.5680 (2000 low). Thirdly, this is supported by the impulsive structure of the rise from 0.6935 to 0.9304. Hence, after the correction 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.

EUR/GBP stayed in consolidation below 0.8865 last week and outlook is unchanged. Initial bias remains neutral this week first. In case of another fall, downside should be contained by 0.8639 support to bring rebound. Further rise is expected and decisive of 0.8851 resistance will pave the way to retest 0.9304 high. However, break of 0.8639 support will now indicate near term topping and bring deeper pull back 0.8529 resistance turned support and below.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. The leg from 0.9304 should have completed after testing 0.8332 structural support. But it’s too early to say that larger rise from 0.6935 is resuming. Rejection from 0.9304 will extend the consolidation with another falling leg. Meanwhile, firm break of 0.9304 will target 0.9799 (2008 high). In case of another decline, 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.

In the long term picture, firstly, price action from 0.9799 (2008 high) is seen as a long term corrective pattern and should have completed at 0.6935 (2015 low). Secondly, rise from 0.6935 is likely resuming up trend from 0.5680 (2000 low). Thirdly, this is supported by the impulsive structure of the rise from 0.6935 to 0.9304. Hence, after the correction from 0.9304 completes, we’d expect another medium term up trend to target 0.9799 high and above.

Daily Pivots: (S1) 0.8348; (P) 0.8367; (R1) 0.8390; More…

Intraday bias in EUR/GBP is neutral for the moment. Consolidation form 0.8276 might be in it’s third leg. On the upside, break of 0.8415 will turn bias to the upside for 0.8537/8595 resistance zone. On the downside, decisive break of 0.8276 will confirm resumption of whole fall from 0.9324.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8595 will argue that fall from 0.9324 has completed and bring stronger rebound.

Daily Pivots: (S1) 0.8704; (P) 0.8725; (R1) 0.8759; More…

Intraday bias in EUR/GBP remains neutral for consolidation above 0.8690 temporary low. As long as 0.8800 minor resistance holds, another fall is expected. On the downside, 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). 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.