Daily Pivots: (S1) 0.8731; (P) 0.8755; (R1) 0.8775; More…

Intraday bias in EUR/GBP remains neutral at this point as consolidation from 0.8865 continues. In case of another fall, we’d expect strong support from 0.8639 to contain downside and bring rise resumption. Decisive break 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.

Daily Pivots: (S1) 0.8975; (P) 0.9006; (R1) 0.9023; More…

No change in EUR/GBP’s outlook as sideway trading is still in progress. With 0.8861 support intact, choppy rise from 0.8670 is in favor to extend. On the upside, decisive break of 0.9291 will target 0.9449 high. On the downside, however, break of 0.8861 will bring deeper fall back to 0.8670 support.

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).

EUR/GBP edged higher to 0.8864 but retreated sharply since then. The development mixed up the near term outlook and intraday bias stays neutral this week first. On the upside, break of 0.8864 will target 0.8924 resistance first. Firm break there should resume larger rise from 0.8545 through 0.8977 high. However, decisive break of 0.8717 support will resume the decline from 0.8977 instead.

In the bigger picture, outlook remains rather mixed for now, except that price actions from 0.9267 (2022 high) are part of the long term range pattern from 0.9499 (2020 high). With 0.8720 support intact, rise from 0.8545 is in favor to continue through 0.8977. However, firm break of 0.8720 will argue that such rebound has completed, and open up deeper fall through this support level.

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) 0.8865; (P) 0.8882; (R1) 0.8899; More…

Intraday bias in EUR/GBP remains neutral as correction from 0.8957 is in progress. As long as 0.8815 support holds, further rally is expected. On the upside, 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) 0.8747; (P) 0.8819; (R1) 0.8941; More…

Intraday bias in EUR/GBP remains on the upside for 0.8939 resistance first. Firm break there will indicate completion of whole fall from 0.9098. In that case, further rally would be seen back to 0.9098. On the downside, below 0.8779 minor support will turn focus back to 0.8655 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.

Daily Pivots: (S1) 0.8597; (P) 0.8634; (R1) 0.8654; More…

EUR/GBP retreated after hitting 0.8669, ahead of 0.8720 resistance, and intraday bias is turned neutral first. Further rally is in favor as long as 0.8510 resistance turned support holds. Above 0.8669 will target 0.8720. Decisive break there will carry larger bullish implications. Next target is 100% projection of 0.8201 to 0.8720 from 0.8338 at 0.8857.

In the bigger picture, focus is back on 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will argue that rise from 0.8201 is a medium term up trend, rather than a correction. Next target is 61.8% retracement at 0.9003. Rejection by 0.8697 again will maintain medium term bearishness, for extending the down trend from 0.9499 (2020 high) at a later stage.

Daily Pivots: (S1) 0.8472; (P) 0.8497; (R1) 0.8528; More…

Intraday bias in EUR/GBP stays neural at this point. Fall from 0.8851 is seen as the third leg of the corrective pattern from 0.9304. Below 0.8445 will target 0.8303 low first. Break will confirm our view and target 0.8116 key cluster support level. However, on the upside, break of 0.8643 will invalidate our view. In that case, intraday bias will be turned to the upside for 0.8851 to extend the corrective 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).

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Daily Pivots: (S1) 0.8639; (P) 0.8672; (R1) 0.8696; More…

Intraday bias in EUR./GBP stays neutral for the moment. Another rise is expected as long as 0.8449 holds. Rebound from 0.8303 is seen as the second leg of the consolidation pattern from 0.9304. Above 0.8764 will target 61.8% retracement of 0.9304 to 0.8303 at 0.8922 and above. We’ll expect strong resistance above 0.8922 to limit upside and bring another fall. On the downside, below 0.8449 will turn bias to the downside for retesting 0.8303 first. Break there will extend the whole fall from 0.9304. In that case, we’ll look for bottoming signal again at around 0.8116.

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 0.8243) 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) 0.8665; (P) 0.8712; (R1) 0.8756; More…

EUR/GBP is staying in consolidation below 0.8786 and intraday bias remains neutral first. We’d continue to expect strong support from 38.2% retracement of 0.8402 to 0.8786 at 0.8639 to contain downside. Above 0.8786 will target 0.8851 resistance and above. However, price actions from 0.8303 are seen as the second leg of the corrective pattern from 0.9304. Hence, we’d expect strong resistance from 100% projection of 0.8303 to 0.8851 from 0.8402 at 0.8950 to limit upside.

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).

Daily Pivots: (S1) 0.8285; (P) 0.8315; (R1) 0.8330; More…

Intraday bias in EUR/GBP stays on the downside for 0.8276 low. Firm break there will confirm resumption of whole fall from 0.9324. Next target is 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8386 support turned resistance will turn bias neutral and bring consolidations first, before staging another fall.

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 0.8786 will argue that fall from 0.9324 has completed and bring stronger rebound.

Daily Pivots: (S1) 0.8472; (P) 0.8491; (R1) 0.8503; More…

Intraday bias in EUR/GBP remains neutral and outlook is unchanged. On the upside, firm break of 0.8593 resistance will be the first sign of larger bullish reversal and target 0.8656 resistance next. On the downside, however, break of 0.8452 will turn bias back to the downside to retest 0.8379 low instead.

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. Further break of 0.8656 will pave the way to 38.2% retracement of 0.9499 to 0.8379 at 0.8807.

Daily Pivots: (S1) 0.8514; (P) 0.8529; (R1) 0.8554; More…

Intraday bias in EUR/GBP is turned neutral again with current recovery. On the downside, break of 0.8520 will extend the choppy fall from 0.8718 to retest 0.8470 low. On the upside, though, break of 0.8616 resistance will indicate completion of the correction from 0.8718, and turn bias back to the upside.

In the bigger picture, price actions from 0.9499 are still seen 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) 0.8382; (P) 0.8424; (R1) 0.8460; More…

A temporary top is formed at 0.8465 and intraday bias is turned neutral first. On the upside, above 0.8465 will target 0.8511 resistance first. Further 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 could 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.

Daily Pivots: (S1) 0.8390; (P) 0.8426; (R1) 0.8447; More…

Intraday bias in EUR/GBP is mildly on the downside for 0.8303/12 support zone. Break there will extend the corrective fall from 0.9304 to to 0.8116/20 cluster support. We’d expect strong support from there to bring rebound. On the upside, above 0.8461 minor resistance will turn bias to the upside for 0.8529. Break will resume the rebound from 0.8312 and target 0.8786 resistance.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. In case of deeper 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. Rise from 0.6935 (2015 low) will resume at a later stage to 0.9799 (2008 high). However, sustained break of 0.8116 could bring deeper decline to next key support level at 0.7564 before the correction completes.

Daily Pivots: (S1) 0.9006; (P) 0.9045; (R1) 0.9104; More…

Intraday bias in EUR/GBP remains on the upside for 0.9297 resistance. Break there will resume the rebound from 0.8670 for 0.9499 high. On the downside, below 0.9004 resistance turned support will turn intraday bias neutral again first.

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) 0.8780; (P) 0.8804; (R1) 0.8828; More…

Intraday bias in EUR/GBP remains neutral at this point. Also, near term outlook is mixed. On the upside, break of 0.8864 will target 0.8924 resistance first. Firm break there should resume larger rise from 0.8545 through 0.8977 high. However, decisive break of 0.8717 support will resume the decline from 0.8977 instead.

In the bigger picture, outlook remains rather mixed for now, except that price actions from 0.9267 (2022 high) are part of the long term range pattern from 0.9499 (2020 high). With 0.8720 support intact, rise from 0.8545 is in favor to continue through 0.8977. However, firm break of 0.8720 will argue that such rebound has completed, and open up deeper fall through this support level.

Daily Pivots: (S1) 0.8960; (P) 0.8983; (R1) 0.9006; More…

Intraday bias in EUR/GBP remains neutral first. As long as 0.8931 resistance turned support holds, further rally is expected in the cross. On the upside, 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.

Daily Pivots: (S1) 0.8788; (P) 0.8817; (R1) 0.8843; More…

Intraday bias in EUR/GBP stays neutral at this point. With 0.8866 resistance intact, near term outlook remains mildly bearish and deeper fall is expected. Break of 0.8688 will extend the fall from 0.9305 and target 61.8% projection of 0.9305 to 0.8745 from 0.8981 at 0.8468 first and then 100% projection at 0.8151 next. However, break of 0.8866 resistance will indicate near term reversal and turn bias back to the upside for 0.8981 resistance 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 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) 0.8435; (P) 0.8449; (R1) 0.8474; More…

Intraday bias in EUR/GBP is turned neutral with current recovery, and some consolidations could be seen. But further fall is still expected. Break of 0.8420 temporary low will resume the larger down trend from 0.9499 to 0.8276 key long term support next. On the upside, though, sustained break of 55 day EMA (now at 0.8533) will bring stronger rebound back to 0.8656 resistance.

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 0.8656 resistance holds, towards long term support at 0.8276. However, firm break of 0.8656 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) 0.8707; (P) 0.8724; (R1) 0.8740; More….

Intraday bias in EUR/GBP stays neutral first. In case of deeper retreat, downside should be contained by 55 D EMA (now at 0.8652). Firm break of 0.8739 will resume the whole rise from 0.8491, and 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.