Daily Pivots: (S1) 0.8437; (P) 0.8466; (R1) 0.8520; More…

Further rise is mildly in favor in EUR/GBP. Sustained break of 55 day EMA (now at 0.8486) will target 0.8593 structural resistance. On the downside, though, break of 0.8434 minor support will turn bias back to the downside for retesting 0.8379 low.

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 0.8593 resistance holds, towards long term support at 0.8276. We’d look for bottoming signal around there to bring reversal. Meanwhile, firm break of 0.8593 will now be an early sign of medium term bottoming. However, sustained break of 0.8276 will be a sign of long term bearish reversal.

Daily Pivots: (S1) 0.8940; (P) 0.9004; (R1) 0.9038; More…

Intraday bias in EUR/GBP remains neutral and outlook is unchanged. 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) 0.8339; (P) 0.8363; (R1) 0.8379; More…

EUR/GBP’s fall from 0.8476 is still in progress and intraday bias stays on the downside for retesting 0.8282 low. Sustained break of 0.8276 key long term support will carry larger bearish implication. On the upside, above 0.8411 minor resistance will turn bias back to the upside for 0.8476 resistance. Break there will resume the rebound from 0.8282.

In the bigger picture, price actions from 0.9499 (2020 high) are still seen 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. However, sustained break of 0.8276 will argue that the long term trend has reversed.

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) 0.8669; (P) 0.8709; (R1) 0.8739; More…

Intraday bias in EUR/GBP remains on the downside for the moment. Rebound from 0.8620 should have completed at 0.8790 already. Deeper fall would be seen back to 0.8620 low. As EUR/GBP was rejected by falling 55 day EMA, recent decline is possibly still in progress. Break of 0.8620 will resume the whole fall from 0.9305 and target 0.8303/12 support zone. On the upside, though, above 0.8796 will resume the rebound from 0.8620 instead.

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.

EUR/GBP stayed in consolidation pattern from 0.8899 last week. Despite a deep pull back, downside was contained above 0.8796 support. Thus, further rise is still expected. On the upside, above 0.8890 will resume the rally from 0.8620 and target 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). However, break of 0.8796 will be the first sign that whole rebound from 0.8620 is completed. Deeper would then be seen to 0.8724 support for confirmation.

In the bigger picture, EUR/GBP is staying in 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) 0.8326; (P) 0.8371; (R1) 0.8457; More…

EUR/GBP’s break of 0.8421 resistance indicates that a short term bottom is at least formed at 0.8282, just ahead of 0.8276 long term support. Intraday bias is back on the upside for 0.8598 structural resistance next. For now, risk will stay on the upside as long as 0.8282 support holds, even in case of deep retreat.

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. Bullish convergence condition in daily MACD and break of 55 day EMA raises the chance that it might be completed. Break of 0.8598 and sustained trading above 55 week EMA (now at 0.8578) should confirm this case and turn outlook bullish for 0.9499 high again. However, sustained break of 0.8276 will argue that the long term trend has reversed.

Daily Pivots: (S1) 0.8913; (P) 0.8935; (R1) 0.8967; More…

EUR/GBP’s rally extends to as high as 0.8954 so far and is finally showing some solid upside momentum. Intraday bias remains on the upside for 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). Decisive break should confirm completion of whole decline from 0.9305. EUR/GBP should then target 61.8% retracement at 0.9043 next. On the downside, 0.8890 resistance turned support is needed to indicate short term topping. Otherwise, outlook will remain bullish even in case of retreat.

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, wed 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) 0.8482; (P) 0.8505; (R1) 0.8521; More…

Intraday bias in EUR/GBP is turned neutral with current retreat. On the upside, above 0.8537 will resume the rebound from 0.8379 to 0.8593 resistance. Sustained break there will be the first sign of larger bullish reversal and target 0.8656 resistance next. On the downside, however, break of 0.8444 minor support will turn bias back to the downside for retesting 0.8379 low.

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 0.8593 resistance holds, towards long term support at 0.8276. We’d look for bottoming signal around there to bring reversal. Meanwhile, firm break of 0.8593 will now be an early sign of medium term bottoming. However, sustained break of 0.8276 will be a sign of long term bearish reversal.

Daily Pivots: (S1) 0.8909; (P) 0.8945; (R1) 0.8964; More…

No change in EUR/GBP’s outlook and intraday bias remains neutral for more consolidations below 0.8992. Further rise is expected as long as 0.8872 resistance holds. But considering bearish divergence condition in 4 hour MACD, we’d look for topping signal as it approaches 0.9101 key resistance. On the downside, break of 0.8872 will indicate short term topping. Deeper pull back could be seen to 55 day EMA (now at 0.8819) first.

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) 0.8713; (P) 0.8733; (R1) 0.8757; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the upside, break of 0.8757 minor resistance will turn bias back to the upside to extend recent sideway pattern with another rebound, towards 0.8967. Nonetheless, break of 0.8666 again and sustained trading below 0.8686 will resume whole fall from 0.9305 and target 0.8303 key support next.

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) 0.8548; (P) 0.8565; (R1) 0.8584; More…

Intraday bias in EUR/GBP remains neutral and further fall is in favor with 0.8676 resistance intact. Break of 0.8521 will target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 0.8472 key support. Considering diminishing downside momentum as seen in daily MACD, we’d expect strong support from there to bring rebound. On the upside, break of 0.8676 resistance will indicate short term bottoming and bring stronger rebound back to 0.8786/9019 resistance zone first.

In the bigger picture, we’re 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.

Daily Pivots: (S1) 0.8820; (P) 0.8839; (R1) 0.8865; More…

EUR/GBP’s break of 0.8828 indicates that fall from 0.9229 has resumed. Intraday bias is back on the downside. Immediate focus is now on 100% projection of 0.9291 to 0.8861 from 0.9229 at 0.8799. Firm break there will indicate downside acceleration for 0.8670 support, as part of the corrective pattern from 0.9499. In any case, outlook will remain bearish as long as 0.8917 resistance holds, in case of recovery.

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) 0.8633; (P) 0.8657; (R1) 0.8679; More…

Intraday bias in EUR/GBP stays neutral and further rally is expected with 0.8619 minor support intact. On the upside, decisive break of 0.8717 support turned resistance will solidify that fall from 0.8977 has completed a five-wave decline. Further rally should then be seen to 0.8977 resistance next. On the downside, though, below 0.8619 minor support will mix up the outlook and turn bias back to the downside for retesting 0.8502 low.

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, break of 0.8502 will resume the decline towards 0.8201 (2022 low).

Daily Pivots: (S1) 0.8765; (P) 0.8777; (R1) 0.8792; More…

Intraday bias in EUR/GBP remains neutral fir the moment. As noted before, the cross was supported by 0.8686 key support level, we’d slightly favoring the case for further rebound. On the upside, above 0.8796 will target 61.8% retracement of 0.8967 to 0.8666 at 0.8852 and above. Nonetheless, on the downside, firm break of 0.8666 will resume the decline from 0.9305 and pave the way to 0.8303 key support zone next.

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) 0.8455; (P) 0.8471; (R1) 0.8496; More…

Intraday bias in EUR/GBP stays on the upside as rebound from 0.8379 is in progress. Sustained break of 55 day EMA (now at 0.8486) will target 0.8593 structural resistance. On the downside, though, break of 0.8444 minor support will turn bias back to the downside for retesting 0.8379 low.

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 0.8593 resistance holds, towards long term support at 0.8276. We’d look for bottoming signal around there to bring reversal. Meanwhile, firm break of 0.8593 will now be an early sign of medium term bottoming. However, sustained break of 0.8276 will be a sign of long term bearish reversal.

Daily Pivots: (S1) 0.8622; (P) 0.8727; (R1) 0.8782; More…

Break of 0.8720 resistance turned support argues that rise from 0.8201 has completed in three-wave corrective pattern. Intraday bias is back on the downside for 55 day EMA (now at 0.8636) first. Firm break there will target 0.8201/8338 support zone. On the upside, above 0.8848 minor resistance will turn intraday bias neutral first.

In the bigger picture, as long as 0.8720 resistance turned support holds, rise from 0.8201 is seen as resuming larger up trend from 0.6935 (2015 low). Break of 0.9499 (2020 high) should be seen at a later stage. However, firm break of 0.8720 will argue that sideway pattern from 0.9499 is extending with another falling leg instead.

Daily Pivots: (S1) 0.8952; (P) 0.8978; (R1) 0.8991; More…

Intraday bias in EUR/GBP remains neutral at this po9int. Further fall is mildly in favor with 0.9068 resistance intact. Sustained break of 0.8866 will argue that rebound from 0.8670 has completed, and pattern from 0.9499 has started the third leg. Intraday bias will be back on the downside for 0.8670 and possibly below. Nevertheless, firm break of 0.9068 will turn bias back to the upside for 0.9291 resistance.

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) 0.8966; (P) 0.8986; (R1) 0.9005; More…

EUR/GBP is losing upside momentum as seen in 4 hour MACD. But with 0.8954 minor support intact, further rise is in favor to 0.9101 key resistance. We’d continue to be cautious on topping there to bring pull back. On the downside, break of 0.8954 support will indicate short term topping. In this case, deeper pull back could be seen to 55 day EMA (now at 0.8855) first.

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.

EUR/GBP edged lower to 0.8322 last week but turned sideway. Initial bias remains neutral this week first. Upside of recovery should be limited by 0.8417 resistance to bring another decline. On the downside, break of 0.8322 will resume recent down trend to 0.8276 key long term support. On the upside, above 0.8417 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.

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.