Daily Pivots: (S1) 0.8843; (P) 0.8864; (R1) 0.8887; 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) 0.8318; (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) 0.8676; (P) 0.8730; (R1) 0.8762; More…

Intraday bias in EUR/GBP remains on the downside as fall from 0.9101 is in progress. Deeper decline should be seen to 0.8620/55 support zone. We’d expect strong support from there to bring near term reversal. On the upside, above 0.8782 minor resistance will turn intraday bias neutral first. But break of 0.8862 resistance is needed to confirm short term bottoming. Otherwise, further fall is still expected in case of recovery.

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 break out of 0.8620 will pave the way back to 0.8302/12 support zone. Break of 0.9101 will bring retest of 0.9304/5 resistance.

Daily Pivots: (S1) 0.8398; (P) 0.8412; (R1) 0.8431; More…

With 0.8467 minor resistance intact, intraday bias in EUR/GBP remains on the downside at this point. Sustained break of 0.8411 fibonacci level will target 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8149 next. On the upside, above 0.8467 minor resistance will turn intraday bias neutral first and bring consolidations, before staging another fall.

In the bigger picture, correction from 0.9324 medium term top is still in progress. Based on current downside momentum, sustained break of 38.2% retracement of 0.6935 to 0.9324 at 0.8411 would pave the way to 61.8% retracement at 0.7848. In any case, further decline would remain in favor as long as 0.8786 support turned resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 0.8420; (P) 0.8452; (R1) 0.8472; More…

EUR/GBP is staying in range of 0.8404/8529 and intraday bias remains neutral. On the downside, below 0.8404 will turn focus back to 0.8303 low. Break there will extend the whole corrective pattern from 0.9304. In that case, we’d expect strong support from 0.8116 to contain downside and bring rebound. On the upside, above 0.8529 will resume the rebound from 0.8312 towards 0.8786 resistance. Overall, there is no change in the view that price action from 0.9304 are forming a corrective pattern. Such pattern would extend in near term.

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) 0.8747; (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.

EUR/GBP’s break of 0.8577 resistance and 55 D EMA (now at 0.8562) last week suggest that rebound from 0.8497 is at least correcting the fall from 0.8764. Initial bias is now on the upside this week for 161.8% projection of 0.8497 to 0.8577 from 0.8503 at 0.8632. For, further rise will remain in favor as long as 0.8529 minor support holds, in case of retreat.

In the bigger picture, there is no clear sign that down trend from 0.9267 has completed, despite loss of downside momentum as seen in D MACD. As long as 0.8713 resistance holds, the down trend will remain in favor to resume through 0.8491 low at la later stage.

In the long term picture, price action from 0.9499 (2020 high) is seen as part of the long term range pattern from 0.9799 (2008 high). Fall from 0.9267 is the third leg of the pattern from 0.9499. Break of 0.8201 (2022 low) will target 100% projection of 0.9499 to 0.8201 from 0.9267 at 0.7969.

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) 0.8713; (P) 0.8779; (R1) 0.8838; More…

EUR/GBP recovered after breaching 0.8720 support and intraday bias is turned neutral again first. On the upside, break of 0.8842 resistance will argue that the corrective pull back from 0.8977 has completed. Further rise should be seen back to 0.8924 resistance and above. However, sustained break of 0.8720 will bring deeper decline 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.

Daily Pivots: (S1) 0.8701; (P) 0.8735; (R1) 0.8756; More…

Intraday bias in EUR/GBP remains on the downside at this point. Choppy decline form 0.8977 is resuming and would target 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.

Daily Pivots: (S1) 0.8389; (P) 0.8418; (R1) 0.8434; More…

Break of 0.8404 suggests that fall from 0.8529 is resuming. Intraday bias is turned to the downside for 0.8303/8312 support zone. Break there will extend the correction from 0.9304 and target 0.8116 cluster support. On the upside, break of 0.8508 will indicate that rise from 0.8312 is resuming and would target 0.8786 resistance instead.

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) 0.8473; (P) 0.8488; (R1) 0.8516; More…

Intraday bias in EUR/GBP is turned neutral with current recovery. But outlook will stay mildly bearish as long as 0.8556 resistance holds. On the downside, break of 0.8448 will resume the whole decline from 0.9799, to retest 0.8276 key long term support level.

In the bigger picture, price actions from 0.9499 are still seen as developing into a corrective pattern. Further decline is expected as long as 0.8668 resistance holds, to retest long term support at 0.8276. We’d look for strong support from there to bring rebound. On the upside, firm break of 0.8668 resistance would now be the first sign of medium term bullish reversal.

EUR/GBP rebounded to as high as 0.8991 last week. The development suggests that fall from 0.9305 has completed at 0.8745 already. Initial bias remains on the upside this week for 61.8% retracement of 0.9305 to 0.8745 at 0.9091. Break there will target a retest on 0.9305 high. On the downside, below 0.8880 minor support will turn bias to the downside for retesting 0.8745 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 another fall. And in that case, EUR/GBP could have a retest on 0.9303 low. 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.

In the long term picture, firstly, price action from 0.9799 (2008 high) is seen as a long term corrective pattern and should have completed at 0.6935 (2015 low). Secondly, rise from 0.6935 is likely resuming up trend from 0.5680 (2000 low). Thirdly, this is supported by the impulsive structure of the rise from 0.6935 to 0.9304. Hence, after the correction 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) 0.8443; (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.

Daily Pivots: (S1) 0.8534; (P) 0.8568; (R1) 0.8587; More…

EUR/GBP is staying in range above 0.8540 and intraday bias 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.

Daily Pivots: (S1) 0.8502; (P) 0.8515; (R1) 0.8529; More…

Further decline is still in favor with 0.8540 minor resistance intact. Firm break of 0.8491/7 support zone will confirm larger down trend resumption. Next target is 0.8376 projection level next. On the upside though, above 0.8540 minor resistance will delay the bearish case and turn intraday bias neutral first.

In the bigger picture, outlook remains bearish as EUR/GBP is capped below medium term falling trendline. That is, down trend from 0.9267 (2022 high) is still in progress. Firm break of 0.8491/7 will target 100% projection of 0.8764 to 0.8497 from 0.8643 at 0.8376.

Daily Pivots: (S1) 0.8503; (P) 0.8526; (R1) 0.8566; More…

Intraday bias in EUR/GBP stays on the upside, as rise from 0.8338 is in progress. Break of 0.8585 will bring further rally to 0.8720 resistance. On the downside, below 0.8501 minor support will turn intraday bias neutral first. But break of 0.8406 support is needed to confirm completion of the rebound. Otherwise, further rally will remain mildly in favor in case of retreat.

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.

Daily Pivots: (S1) 0.9157; (P) 0.9204; (R1) 0.9251; More…

With 0.9088 minor support intact, further rise is expected in EUR/GBP. Current rally should now target 0.9305 key resistance next. On the downside, break of 0.9088 minor support will turn intraday bias neutral again to bring consolidations, before staging another rise.

In the bigger picture, current development confirms that corrective fall from 0.9305 (2017 high) has completed with three waves down to 0.8472. And, up trend from 0.6935 (2015 low) is ready to resume. Break of 0.9305 will 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 0.8472 support holds.

EUR/GBP’s decline from 0.9324 extended lower last week and breached 61.8% retracement of 0.8472 to 0.9324 at 0.8797. Initial bias remains on the downside this week. Sustained trading below 0.8797 will pave the way to 0.8472 key support next. On the upside, though, above 0.8894 will indicate short term bottoming, and turn bias to the upside for stronger recovery.

In the bigger picture, the failure to sustain above 0.9305 (2017 high) suggests that consolidation from there is extending. Breach of 0.8472 cannot be ruled out but downside should be contained by 38.2% retracement of 0.6935 (2015 low) to 0.9305 at 0.8400. On the upside, firm break of 0.9327 will confirm up trend resumption.

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 0.8472 support holds, further rise should be seen through 0.9305 to 0.9799 and above down the road.

EUR/GBP edged higher last week but failed to take out 0.8928 resistance and reversed. As it’s staying in range of 0.8686/8928, outlook is unchanged. Initial bias stays neutral this week first. Near term outlook will remain mildly bearish as long as 0.8928 resistance holds. 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.

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.