EUR/GBP stayed in range trading below 0.9054 last week and outlook is unchanged. Initial bias remains neutral this week and further rise is in favor as long as 0.8866 minor support holds. On the upside, above 0.9054 will extend the rebound form 0.8670 to 61.8% retracement of 0.9499 to 0.8670 at 0.9182. However, firm break of 0.8866 will complete a head and should top pattern. That 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.

Daily Pivots: (S1) 0.9016; (P) 0.9029; (R1) 0.9042; More…

EUR/USD is staying in consolidation from 0.9175 and intraday bias remains neutral first. 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) 0.9045; (P) 0.9073; (R1) 0.9120; More…

Intraday bias in EUR/GBP remains on the upside at this point. rebound form 0.8670 is in progress for 61.8% retracement of 0.9499 to 0.8670 at 0.9182 first. Sustained trading above there will pave the way to retest 0.9499 high. On the downside, below 0.9901 minor support will turn bias back to the downside for testing 0.8864 support 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’s rebound from 0.8670 extended to as high as 0.9000 last week. A temporary top was formed after hitting 38.2% retracement of 0.9499 to 0.8670 at 0.8987. Initial bias is neutral this week first. On the upside, firm break of 0.8987 will indicate completion of whole fall from 0.9499. Further rally should be seen to 61.8% retracement at 0.9182 and above. However, sustained break of 4 hour 55 EMA (now at 0.8900) will suggest completion of rebound from 0.8670. Intraday bias will be turned back to the downside for retesting 0.8670 low.

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 surged to as high as 0.9291 last week. The firm break of 0.9175 confirmed resumption of whole rise from 0.8670. Initial bias remains on the upside this week for 100% projection of 0.8670 to 0.9175 from 0.8866 at 0.9371 first. Break will target 0.9499 high next. On the downside, below 0.9210 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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

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) 0.8403; (P) 0.8414; (R1) 0.8425; More…

Intraday bias in EUR/GBP is mildly on the downside for 0.8379 support. Firm break there will resume larger down trend from 0.9499 towards long term support at 0.8276. On the upside, above 0.8462 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 0.8593 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) 0.8833; (P) 0.8868; (R1) 0.8899; More…

Intraday bias in EUR/GBP remains on the downside at this point. Sustained trading below 0.8861 support will confirm that corrective rebound form 0.8670 has completed. Fall from 0.9929 is seen as the third leg of the pattern from 0.9499. Deeper decline would be seen back to 0.8670 support. On the upside, though, break of 0.8923 minor resistance will dampen this bearish case and turn bias back to the upside for rebound first.

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) 0.8458; (P) 0.8485; (R1) 0.8517; More…

Intraday bias in EUR/GBP remains mildly on the upside at this point. Current development argues that choppy fall from 0.8720 might be completed. Firm break of 100% projection of 0.8338 to 0.8491 from 0.8386 at 0.8539 will affirm this bullish case, and prompt upside acceleration to 161.8% projection at 0.8634 and above. On the downside, break of 0.8386 will resume the fall from 0.8720 through 0.8338 low instead.

In the bigger picture, medium term bearishness is maintained with prior rejection by 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Break of 0.8201 will resume larger down trend from 0.9499 (2020 high). Nevertheless, sustained break of 0.8697 will affirm the case that rise from 0.8201 is a medium term up trend itself.

EUR/GBP’s strong rebound last week revived near term bullishness, with 55 day EMA defended. Pull back from 0.9175 should have completed at 0.8930 and rise from 0.8670 is probably ready to resume. Further rise is expected this week for 0.9175 first. Break will target 61.8% projection of 0.8670 to 0.9175 from 0.8930 at 0.9242. On the downside, below 0.9034 minor support will dampen this bullish case and turn intraday bias back to the downside.

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.

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.

Daily Pivots: (S1) 0.8744; (P) 0.8776; (R1) 0.8815; More…

Intraday bias in EUR/GBP remains neutral first. On the downside, sustained trading below 55 day EMA (now at 0.8656) will extend the fall from 0.9267 (as another falling leg of a long term consolidation pattern), to 0.8201/8338 support zone. On the upside, above 0.8848 minor resistance will turn bias back to the upside for recovery instead.

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/USD stays neutral for the moment. 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) 0.8975; (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).

Daily Pivots: (S1) 0.8914; (P) 0.8944; (R1) 0.9002; More…

No change in EUR/GBP’s outlook and intraday bias stays neutral first. At this point, we’d still expect strong support from t 0.8891 cluster support (50% retracement of 0.8472 to 0.9324 at 0.8856) to bring rebound. On the upside, break of 0.9015 support turned resistance will turn bias back to the upside for retesting 0.9324 high. However, sustained break of 0.8891 will target 61.8% retracement of 0.8472 to 0.9324 at 0.8797 and below.

In the bigger picture, up trend from 0.6935 (2015 low) should be resuming. Sustained break of 0.9305 will confirm and target 0.9799 (2008 high) and then 61.8% projection of 0.6935 to 0.9305 from 0.8472 at 0.9937. In any case, medium term outlook will remain bullish as long as 0.8891 support holds, in case of deep pull back. However, sustained break of 0.8891 will dampen this bullish view and focus would be back on 0.8472 key support.

Daily Pivots: (S1) 0.8871; (P) 0.8946; (R1) 0.8990; More…

Intraday bias in EUR/GBP is turned neutral with the current pull back. Focus is back on 0.8880 support. As long as this support holds, above rise will remain mildly in favor. Break of 0.9054 will target 61.8% retracement of 0.9499 to 0.8670 at 0.9182 first. However, considering, bearish divergence condition in 4 hour MACD, firm break of 0.8880 will argue that rebound from 0.8670 has completed. Intraday bias will be turned back to the downside for retesting 0.8670 low.

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.

EUR/GBP dropped sharply to 0.8294 last week but recovered since then. Initial bias is neutral this week first. On the downside, below 0.8294 will resume the fall from 0.8456 to retest 0.8201 low. Firm break there will resume larger down trend. On the upside, however, break of 0.8456 will resume the rebound from 0.8201 to 0.8476 structural resistance.

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) 0.8894; (P) 0.8926; (R1) 0.8950; More…

With 0.8825 minor support intact, rebound from 0.8670 is in progress for 38.2% retracement of 0.9499 to 0.8670 at 0.8987. Firm break there will indicate completion of whole fall from 0.9499. Further rally should be seen to 61.8% retracement at 0.9182 and above. On the downside, though, break of 0.8825 minor support will turn bias to the downside for retesting 0.8670 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) 0.8443; (P) 0.8471; (R1) 0.8500; More…

Intraday bias in EUR/GBP stays neutral at this point. Further decline is expected as long as 0.8552 minor resistance holds. Rebound from 0.8201 should have completed at 0.8720, after rejection by 0.8697 medium term fibonacci level. Below 0.8401 ill target a test on 0.8201/48 support zone next.

In the bigger picture, rejection by 38.2% retracement of 0.9499 to 0.8201 at 0.8697 argues that rebound from 0.8201 is merely a corrective move. That is, down trend from 0.9499 (2020 high) is now over. Sustained break of 0.8201 will resume such decline and target 61.8% retracement of 0.6935 to 0.9499 at 0.7917. This will now remain the favored case as long as 0.8720 resistance holds.

EUR/GBP dropped sharp to 0.8529 last week and took out 0.8620 key support. The development suggests resumption larger decline from 0.9305. As a temporary low is in place, initial bias is neutral this week for some consolidations first. Upside of recovery should be limited well below 0.8840 resistance to bring fall resumption. On the downside, break of 0.8529 will target long term projection target at 0.8416 next.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Current fall from 0.9305 (2017 high), is seen a a falling leg inside the pattern. Such decline is now targeting 100% projection of 0.9305 to 0.8620 from 0.9101 at 0.8416 and possibly below. But for now, we’d expect strong support around 0.8312 support to contain downside and 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). As long as 050% retracement of 0.6935 to 0.9304 at 0.8120 holds, further rise should be seen through 0.9305 to 0.9799 and above down the road.

Daily Pivots: (S1) 0.8408; (P) 0.8424; (R1) 0.8441; More…

Intraday bias in EUR/GBP remains neutral first and further rise is in favor as long as 0.8294 support holds. On the upside, break of 0.8511 will target 0.8697 medium term fibonacci level next. However, break of 0.8294 will dampen this bullish view and bring retest of 0.8201 low.

In the bigger picture, a medium term bottom should 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. This will remain the favored case as long as 0.8294 support holds.

Daily Pivots: (S1) 0.8363; (P) 0.8391; (R1) 0.8410; More…

EUR/GBP’s break of 0.8379 confirms resumption of larger down trend of 0.9499. Despite some loss of downside momentum as seen in 4 hour MACD, further decline is expected as long as 0.8462 resistance holds. Next target is 0.8276 key long term support. Nevertheless, break of 0.8462 will turn bias back to the upside for 0.8549 resistance 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 0.8598 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.