Daily Pivots: (S1) 0.8545; (P) 0.8564; (R1) 0.8579; More…

Intraday bias in EUR/GBP remains neutral at this point. On the downside, below 0.8540 will resume the choppy fall from 0.8718 to retest 0.8470 low. Nevertheless, on the upside, break of 0.8627 will turn bias back to the upside for 0.8670 resistance and above instead.

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.

EUR/GBP was bounded in consolidation in very tight range above 0.8575 last week and outlook remains unchanged. Initial bias stays neutral this week first. In case of another recovery, upside should be limited by 0.8811 resistance. On the downside, break of 0.8575 will resume the fall from 0.9324 and target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 0.8472 key support.

In the bigger picture, we’re now 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.

In the long term picture, rise from 0.6935 (2015 low) could either be resuming the up trend from 0.5680 (2000 low). Or it’s just the second leg of the consolidation pattern from 0.9799 (2008 high). Eventual structure of the pull back from 0.9324 should reveal which case it should be.

Daily Pivots: (S1) 0.8411; (P) 0.8425; (R1) 0.8455; More….

Intraday bias in EUR/GBP remains neutral for the moment and outlook stays bearish as long as 0.8498 resistance holds. Larger down trend should resume through 0.8382 at a later stage.

In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 0.8201 key support (2022 low). For now, outlook will remain bearish as long as 0.8643 resistance holds, even in case of stronger rebound.

Daily Pivots: (S1) 0.9026; (P) 0.9075; (R1) 0.9106; More…

Intraday bias in EUR/GBP remains neutral for the moment. Further fall is mildly in favor as long as 0.9220 resistance holds. Break of 0.9024 will target 0.8866 support. Decisive break there should confirm completion of the whole choppy rebound form 0.8670. Though, break of 0.9220 will likely resume such rebound through 0.9291.

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) 0.8765; (P) 0.8785; (R1) 0.8802; More…

Intraday bias in EUR/GBP remains on the downside with 0.8804 minor resistance intact. Further fall should be seen to 0.8722 first. Break there will resume whole decline from 0.9097 and target 0.8620 support next. On the upside, above 0.8864 minor resistance will turn intraday bias neutral first. But another fall is in favor as long as 0.8804 minor resistance holds.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). On the downside, break of 0.8722 will extend the falling leg through 0.8620 support. On the upside, break of 0.9097 will target 0.9304 resistance instead.

Daily Pivots: (S1) 0.8609; (P) 0.8628; (R1) 0.8656; More…

Intraday bias in EUR/GBP remains neutral for the moment as sideway trading continues. On the downside, below 0.8543 will target a test on 0.8502 low. Decisive break there will resume larger decline from 0.8977. On the upside firm break of 0.8717 resistance will suggest larger reversal and target 0.8874 resistance next.

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, rejection by 0.8717, followed by break of 0.8502 will resume the decline towards 0.8201 (2022 low).

Daily Pivots: (S1) 0.8444; (P) 0.8460; (R1) 0.8477; More…

Intraday bias in EUR/GBP stays mildly on the downside for the moment. Rebound from 0.8201 should have completed at 0.8720, after rejection by 0.8697 medium term fibonacci level. Further fall would be seen to retest 0.8201/48 support zone next. On the upside, above 0.8531 minor resistance will turn intraday bias neutral first.

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.

Daily Pivots: (S1) 0.8753; (P) 0.8781; (R1) 0.8799; More…

EUR/GBP is staying in consolidation from 0.8722 and intraday bias stays neutral for the moment. With 0.8847 support turned resistance intact, further 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) 0.8549; (P) 0.8561; (R1) 0.8574; More…

Intraday bias in EUR/GBP remains mildly on the downside. Deeper fall would be seen to retest 0.8491 low. Firm break there will resume larger down trend. On the upside, above 0.8609 minor resistance will bring another rebound. But in any case, outlook will stay bearish as long as 0.8667 resistance holds.

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). Further decline is in favor as long as 0.8667 resistance holds. Break of 0.8491 will resume the fall towards 0.8201 (2022 low).

Daily Pivots: (S1) 0.8853; (P) 0.8872; (R1) 0.8891; More…

Intraday bias in EUR/GBP remains neutral as the cross is staying in range of 0.8732/0.9032. With 0.9032 resistance intact, deeper decline is mildly in favor in the cross. Break of 0.8732 will resume the fall from 0.9305 and target 0.8303 key support level. However, on the upside, decisive break of 0.9032 will confirm completion of the decline from 0.9305. In such case, intraday bias will be turned back to the upside for retesting 0.9305 key 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.

Daily Pivots: (S1) 0.9086; (P) 0.9106; (R1) 0.9127; More…

Intraday bias in EUR/GBP remains neutral and more consolidative trading could be seen. On the upside, firm break of 0.9175 resistance will resume whole rise from 0.8670. Nevertheless, break of 0.8930 will bring deeper fall to 0.8864 support and possibly below.

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) 0.8640; (P) 0.8661; (R1) 0.8691; More…

EUR/GBP lost downside momentum well ahead of 0.8570 support, as seen in 4 hour MACD. Intraday bias is turned neutral again first. On the downside, firm break of 0.8570 will resume the whole decline form 0.9267, towards 0.8338 support. On the upside, above 0.8827 will resume the rebound from 0.8570 and flip bias back to the upside instead.

In the bigger picture, current development suggests that fall from 0.9267 is a down leg inside long term range pattern. Deeper fall could be seen towards 0.8201/8338 support zone. But strong support should be seen there to bring reversal. Nevertheless, firm break of 0.8869 resistance will turn favor to the case that such decline is merely a correction in the up trend from 0.8201. That is, further rally would be seen at a later stage through 0.9267.

Daily Pivots: (S1) 0.8783; (P) 0.8802; (R1) 0.8831; More…

EUR/GBP is still bounded in sideway trading inside 0.8693/8844. Intraday bias remains neutral and more consolidations could be seen. But after all, as long as 0.8693 minor support holds, further rally is in favor. On the upside, break of 0.8844 will resume the rebound from 0.8620 for 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). However, break of 0.8693 will bring deeper fall back to retest 0.8620 low.

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.

Daily Pivots: (S1) 0.8533; (P) 0.8548; (R1) 0.8556; More…

No change in EUR/GBP’s outlook as range trading continues. Intraday bias remains neutral. On the downside decisive break of 0.8491/7 support zone will confirm larger down trend resumption and target 0.8464 projection level first. However, firm break of 0.8577 will turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 0.8764 is seen as another leg in the whole down trend from 0.9267 (2022 high). Outlook will stay bearish as long as 0.8713 resistance holds. Break of 0.8491 will target 61.8% projection of 0.8977 to 0.8491 from 0.8764 at 0.8464.

Daily Pivots: (S1) 0.8900; (P) 0.8927; (R1) 0.8962; More

Intraday bias in EUR/GBP remains neutral as consolidation from 0.8994 continues. Downside of retreat should be contained by 0.8828 minor support to bring another rally. Break of 0.8994 will extend the whole rise from 0.8312 towards 0.9304 high. here is no clear sign of up trend resumption yet. Hence, we’ll be cautious on strong resistance from 0.9304 to limit upside and bring another fall.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. It’s uncertain whether it is finished yet. But in case of another 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 and bring rebound. Whole up trend from 0.6935 is expected to resume after consolidation from 0.9304 completes.

Daily Pivots: (S1) 0.8802; (P) 0.8850; (R1) 0.8918; More…

Intraday bias in EUR/GBP stays on the upside for the moment. Corrective fall from 0.8977 should have completed with three waves down to 0.8753, ahead of 0.8720 support. The development in turn suggests that rise from 0.8545 is not over. Further rise should be seen back to retest 0.8977 next.

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.

After deeper than expected pull back, EUR/GBP’s rebound resumed by breaking 0.8790 last week. The development affirmed the case of near term reversal. That is, decline from 0.9305 has completed at 0.8620. Initial bias remains on the upside this week for 0.8967 cluster resistance next (50% retracement of 0.9305 to 0.8620 at 0.8963). Break will confirm this view and target retesting 0.9305. On the downside, below 0.8679 will turn bias to the downside for 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.

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) 0.8516; (P) 0.8550; (R1) 0.8571; More…

EUR/GBP is staying in consolidation from 0.8521 temporary low and intraday bias remains neutral first. Further decline remains mildly in favor as long as 0.8605 minor resistance holds. 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 0.86860576 resistance will indicate short term bottoming and bring stronger rebound back to 0.8786/9019 resistance zone.

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) 0.8326; (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) 0.8935; (P) 0.8953; (R1) 0.8967; More…

No change in EUR/GBP’s outlook as fall from 0.9175 is in progress for 0.8864 support. Break should confirm completion of whole rebound from 0.8670. In this case, deeper fall would be seen back to 0.8670 low. On the upside, however, break of 0.9067 minor resistance will turn intraday bias back to the upside for 61.8% retracement of 0.9499 to 0.8670 at 0.9182 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.