Daily Pivots: (S1) 0.8600; (P) 0.8624; (R1) 0.8660; More….

Intraday bias in EUR/GBP stays neutral as consolidation from 0.8548 is still extending. Further decline is expected as long as 0.8648 support turned resistance holds. On the downside, break of 0.8548 will resume the decline from 0.8764 to retest 0.8419 low next. However, sustained break of 0.8648 will turn bias to the upside for stronger rebound.

In the bigger picture, current development suggests that down trend from 0.9267 (2022 high) is still in progress. This decline is seen as the third leg of the pattern from 0.9499 (2020 high). Break of 0.8201 will target 100% projection of 0.9499 to 0.8201 from 0.9267 at 0.7969. In any case, outlook will stay bearish as long as 0.8764 resistance holds.

Daily Pivots: (S1) 0.8318; (P) 0.8335; (R1) 0.8345; More…

EUR/GBP spiked lower to 0.8282 but recovered strong just ahead of 0.8276 key long term support. Intraday bias remains neutral first. On the upside, firm break of 0.8421 resistance should now will be a sign of bullish reversal. Further rise would be seen back to 0.8598 structural resistance for confirmation. However, sustained break of 0.8276 will carry larger bearish implication and could prompt downside acceleration.

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.

Daily Pivots: (S1) 0.8285; (P) 0.8316; (R1) 0.8353; More…

The break of 0.8304 support turned resistance suggests short term bottoming at 0.8201. Intraday bias is now mildly on the upside for 0.8405 resistance first. Break there will target key structural resistance at 0.8476. On the downside, however, break of 0.8201 will resume larger down trend.

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.

Daily Pivots: (S1) 0.8809; (P) 0.8826; (R1) 0.8842; More…

EUR/GBP’s rally resumes by taking out 0.8850 and reaches as high as 0.8874 so far. Intraday bias is back on the upside. Further rise should now be seen back to retest 0.9101 key resistance. On the downside, break of 0.8790 minor support will turn bias neutral and bring consolidations again.

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 0.8511). 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.

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.

Daily Pivots: (S1) 0.8494; (P) 0.8520; (R1) 0.8536; More…

Focus is now on 0.8499 support in EUR/GBP. Sustained break there will argue that corrective rebound from 0.8488 has completed with three waves up to 0.8656. Also, near term bearishness is kept by rejection from 0.8668 resistance. Deeper fall would be seen back to retest 0.8488 in this case. Break will resume larger down trend from 0.9499.

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) 0.8747; (P) 0.8768; (R1) 0.8788; More…

Intraday bias in EUR/GBP remains neutral for consolidation below 0.8786. Some consolidations could be seen but downside should be contained by 0.8624 support to bring another rally. On the upside, break of 0.8786 will resume larger rise from 0.8201 to 100% projection of 0.8201 to 0.8720 from 0.8338 at 0.8857.

In the bigger picture, current development suggests that the down trend from 0.9499 has (2020 high) has completed at 0.8201. Rise from there is developing into a medium term up trend. Further rally would be seen to 61.8% retracement of 0.9499 to 0.8201 at 0.9003 next. This will now remain the favored case as long as 55 day EMA (now at 0.8545) holds.

Daily Pivots: (S1) 0.8321; (P) 0.8358; (R1) 0.8380; More…

Intraday bias in EUR/GBP remains on the downside at this point. 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 intraday bias neutral first.

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.

Daily Pivots: (S1) 0.8805; (P) 0.8835; (R1) 0.8892; More…

Range trading continues in EUR/GBP inside 0.8686/8928. Intraday bias remains neutral. Also, outlook stays mildly bearish with 0.8928 resistance intact. On the downside, firm break of 0.8686 will resume whole decline from 0.9305. As 61.8% retracement of 0.8312 to 0.9305 should then be taken out too, deeper decline would be seen to retest 0.8303/8312 support zone. Nonetheless, on the upside, break of 0.8928 will indicate near term reversal and turn outlook bullish for 0.9304 resistance.

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.

EUR/GBP dropped further to 0.8333 last week but turned sideway since then. Initial bias is neutral this week first for some consolidations. Outlook stays bearish as long as 0.8417 resistance holds. Break of 0.8333 will resume larger down trend for 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.

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.

Daily Pivots: (S1) 0.8751; (P) 0.8795; (R1) 0.8860; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the upside, break of 0.8842 resistance will argue that corrective fall from 0.8977 has completed, after touching 0.8720 support. Further rise should be seen back to 0.8924 resistance and above. However, sustained break of 0.8720 will bring deeper decline back to 0.8545 instead.

In the bigger picture, outlook is 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.

EUR/GBP’s break of 0.8717 support indicates that the choppy decline from from 0.8977 is resuming. Initial bias is now on the downside this week. Deeper fall would be seen to 100% projection of 0.8977 to 0.8717 from 0.8874 at 0.8614. On the upside, above 0.8766 minor resistance will turn intraday bias neutral first.

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) 0.8784; (P) 0.8815; (R1) 0.8835; More…

Intraday bias in EUR/GBP remains neutral and with 0.8847 support turned resistance intact, deeper fall is expected. On the downside, break of 0.8772 will target 0.8620 low first. 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.

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.

Daily Pivots: (S1) 0.8768; (P) 0.8794; (R1) 0.8816; More…

EUR/GBP is losing some upside momentum as seen in 4 hour MACD. But with 0.8726 minor support intact, further rise is mildly in favor. Firm break of 38.2% retracement of 0.9101 to 0.8617 at 0.8802 will target 61.8% retracement at 0.8916. On the downside, break of 0.8726 minor support will turn bias back to the downside for 0.8617/20 support instead.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). The medium term range is set between 0.8620 and 0.9101. Downside breakout of 0.8620 will pave the way back to 0.8312 support . Break of 0.9101 will bring retest of 0.9304/5 resistance.

Daily Pivots: (S1) 0.8963; (P) 0.9009; (R1) 0.9038; More…

Further rise is expected in EUR/GBP with 0.8880 support intact. Current rebound from 0.8670 should target 61.8% retracement of 0.9499 to 0.8670 at 0.9182 first. Sustained break there will pave the way to retest 0.9499 high. On the downside, though, break of 0.8880 support will turn bias back to the downside for 0.8670 low instead.

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) 0.8472; (P) 0.8531; (R1) 0.8564; More…

EUR/GBP recovers mildly today but with 0.8568 minor resistance intact, intraday bias stays on the downside. Current development suggests that consolidation from 0.8472 has completed with three waves to 0.8681, after failing to sustain above 55 day EMA. Break of 0.8472 low will resume fall from 0.9101 and target 61.8% projection of 0.9101 to 0.8472 from 0.8681 at 0.8292 next. On the upside, above 0.8568 minor resistance will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, medium term decline from 0.9306 (2017 high) is seen as a corrective move. Current development suggests that it’s extending through 0.8312 support towards 50% retracement of 0.6935 (2015 low) to 0.9306 at 0.8121. We’ll look for strong support around there to contain downside to complete the correction. But for now, break of 0.8681 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

Daily Pivots: (S1) 0.8615; (P) 0.8637; (R1) 0.8659; More….

EUR/GBP’s rise from 0.8491 is continuing today and intraday bias stays on the upside. As noted before, this rise is seen as the third leg of the corrective pattern from 0.8502. Upside should be limited by 0.8667/8700 resistance zone. On the downside, below 0.8625 minor support will turn intraday bias neutral first. Further break of 0.8568 support will turn bias back to the downside for retesting 0.8491 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). Fall from 0.8977 is seen as the third leg. As long as 0.8700 resistance holds, further decline is still expected. Break of 0.8491 will resume the fall towards 0.8201 (2022 low). Nevertheless, firm break of 0.8700 will now be a sign of bullish reversal.

Daily Pivots: (S1) 0.8631; (P) 0.8674; (R1) 0.8699; More…

Focus remains on 0.8786 resistance in EUR/GBP. At this point, we’re still viewing price actions from 0.8276 as a corrective pattern. Hence, in case of another rise, we’d expect strong resistance from 0.8786 resistance to limit upside. Break of 0.8594 support will turn bias back to the downside for retesting 0.8276 low. However, sustained break of 0.8786 will indicate near term bullishness for 61.8% retracement of 0.9324 to 0.8276 at 0.8924 next.

In the bigger picture, there are various interpretations on the price actions from 0.9324. It could be the third leg of the pattern from 0.9799 (2008 high). Or it could just be correcting the rise from 0.6935 (2015 low) to 0.9324. But in any case, as long as 0.8786 support turned resistance holds, further decline is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848 next. Firm break of 0.8786, however, will bring retest of 0.9324 high.

Daily Pivots: (S1) 0.8812; (P) 0.8844; (R1) 0.8867; More…

Despite some loss of upside momentum, intraday bias remains on the upside with 0.8790 minor support intact. Further rise should be seen for 0.9101 key resistance next. On the downside, break of 0.8790 minor support will turn bias neutral and bring consolidations again. But outlook will remain bullish as long as 0.8681 resistance turned support holds.

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 0.8511). 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.

Daily Pivots: (S1) 0.8960; (P) 0.8996; (R1) 0.9014; More…

Intraday bias in EUR/GBP remains neutral for the moment as consolidation from 0.9175 is still expected. 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.