Daily Pivots: (S1) 0.8569; (P) 0.8593; (R1) 0.8637; More…

Intraday bias in EUR/GBP remains on the upside at this point. Fall from 0.8764 has probably completed already. Further rally would be seen to medium term trend line resistance (now at 0.8650). On the downside, below 0.8596 minor resistance will turn intraday bias neutral again first.

In the bigger picture, outlook is mixed up by current strong rebound. On the upside, sustained break of the trend medium term trend resistance will argue that the down trend from 0.9267 (2022 high) has completed as a triangle pattern. Further rise should then be seen through 0.8764 resistance next. However, rejection by the trend line will retain medium term bearishness for another fall through 0.8491 at a later stage.

Daily Pivots: (S1) 0.8568; (P) 0.8577; (R1) 0.8587; More…

EUR/GBP’s break of 0.8601 resistance suggest resumption of rise from 0.8448. Intraday bias is back on the upside for 0.8668 resistance first. Firm break there will be a strong sign of near term bullish reversal at least. Next target is 0.8718 resistance. On the downside, break of 0.8561 support, however, would argue that the rebound has completed, and turn bias back to the downside for retesting 0.8448 low.

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) 0.8659; (P) 0.8703; (R1) 0.8727; More…

Intraday bias in EUR/GBP is mildly on the downside for 0.8570 support first. Firm break there will resume whole decline from 0.9267. 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) 0.8995; (P) 0.9023; (R1) 0.9063; More…

Intraday bias in EUR/GBP remains neutral and outlook is unchanged. After all, as long as 0.8861 support holds, choppy rise form 0.8670 should resume later. Break of 0.9229 will target 0.9291 resistance first. Firm break there will target 0.9449 high.

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) 0.8333; (P) 0.8366; (R1) 0.8393; More…

EUR/GBP’s decline resumes after brief consolidation and intraday bias back on the downside. Current fall from 0.8720 should target a retest on 0.8201 low. On the upside, above 0.8414 minor resistance will turn intraday bias neutral again. But outlook will stays cautiously bearish as long as 0.8585 resistance holds.

In the bigger picture, current development suggests rejection by 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Medium term term bearishness is maintained. 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 gyrated lower again last week but it still held above 0.8537 support. Initial bias remains neutral this week first. On the upside, above 0.8638 minor resistance will turn bias to the upside for 0.8729 resistance. Firm break there should indicate short term bullish reversal. On the downside, sustained break of 0.8537 will resume the whole pattern from 0.9499, towards 0.8276 key 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. However, firm break of 0.8276 support will suggest that rise from 0.6935 has completed and turn outlook bearish.

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) 0.8688; (P) 0.8719; (R1) 0.8734; More…

Intraday bias in EUR/GBP remains on the downside. Current decline from 0.9098 should target 0.8620 support first. Break will target 100% projection o f0.9098 to 0.8722 from 0.8939 at 0.8563 next. On the upside, break of 0.8800 minor resistance is needed to indicate short term bottoming. Otherwise, near term outlook will remain bearish 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). 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) 0.8398; (P) 0.8433; (R1) 0.8455; More…

EUR/GBP’s decline continues today and intraday bias stays on the downside. 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) 0.8797; (P) 0.8830; (R1) 0.8868; More…

Intraday bias in EUR/GBP remains neutral for the moment. As long as 55 day EMA (now at 0.8722) holds, rise from 0.8545 is still in favor to continue. Above 0.8876 will resume the rally and target 61.8% retracement of 0.9276 to 0.8545 at 0.8997 and possibly above.

In the bigger picture, fall from 0.9267 is seen as 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 0.8827 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) 0.8418; (P) 0.8443; (R1) 0.8458; More…

EUR/GBP’s declined resumed by breaking 0.8420 and intraday bias is back on the downside. The current down trend from 0.9499 is in progress for 0.8276 key long term support next. On the upside, break of 0.8467 minor resistance will now indicate short term bottoming,and bring stronger rebound back to 55 day EMA (now at 0.8516).

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) 0.8673; (P) 0.8714; (R1) 0.8744; More…

Despite breaching 0.8750 to 0.8754, EUR/GBP quickly retreated back to established range. Intraday bias stays neutral first as the consolidation from 0.8750 could extend. Near term outlook will remain mildly bullish as long as 0.8602 support holds and further rally is expected. Above 0.8750 will target 0.8786 resistance first. Break of 0.8786 would pave the wave for retesting 0.9304 high. Break of 0.8602, however, will argue that the rebound from 0.9312 has completed and turn bias back to the downside for 0.8529.

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 taking 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.

EUR/GBP’s fall accelerated to as low as 0.8276 last week. A temporary low was formed there with subsequent recovery. Initial bias is neutral this week for some consolidations first. Upside of recovery should be limited by 0.8508 resistance to bring fall resumption. On the downside, below 0.8276 will resume the decline from 0.9324 and target 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8149 next.

In the bigger picture, fall from 0.9324 medium term top is still in progress. 38.2% retracement of 0.6935 to 0.9324 at 0.8411 was firmly taken out. Further decline should now be seen to 61.8% retracement at 0.7848 next. In any case, further decline would remain in favor as long as 0.8786 support turned resistance holds, even in case of strong rebound.

In the long term picture, the strong break of 55 month EMA now suggests that rise from 0.6935 (2015 low) has completed at 0.9324 already. However fall from there could be the third leg of the whole pattern from 0.9799 (2008 high). It’s a bit early to judge how fall the decline would extend to and whether 0.6935 would be taken out. We’ll pay attention to the structure of the fall from 0.9324 and corresponding downside momentum to made an assessment later.

Daily Pivots: (S1) 0.8968; (P) 0.9001; (R1) 0.9057; More…

EUR/GBP rebounds after hitting 0.8945 but upside is limited well below 0.9148 resistance so far. Intraday bias is turned neutral and outlook is unchanged. Corrective pattern from 0.9291 could extend lower. But strong support should be seen above 0.8866 support to bring rebound. On the upside, break of 0.9148 resistance will suggest completion of the correction. Intraday bias will be turned back to the upside for retesting 0.9291 high.

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) 0.8756; (P) 0.8774; (R1) 0.8787; More…

With 0.8838 minor resistance intact, further decline is expected in EUR/GBP for 0.8670 support. It’s now in the third leg of the corrective pattern from 0.9499 and would target 161.8% projection of 0.9291 to 0.8861 from 0.9229 at 0.8533. On the upside, break of 0.8838 minor resistance will turn intraday bias 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) 0.8754; (P) 0.8796; (R1) 0.8816; More…

Intraday bias in EUR/GBP remains neutral for the moment as range trading continues. On the upside, break of 0.8863 resistance will suggest completion of whole decline from 0.9499. Intraday bias will be turned back to the upside for retesting 0.9499. On the downside, through, break of 0.8681 will resume the fall towards 0.8276/82 key support zone.

In the bigger picture, up trend from 0.6935 (2015 ) should still be in progress. Next target is 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. Initial resistance could be seen around there as it’s close to 0.9799 (2008 high). In any case, medium term outlook will stay bullish as long as 0.8276 support holds, even in case of deep pull back.

Daily Pivots: (S1) 0.8902; (P) 0.8956; (R1) 0.8997; More…

Intraday bias in EUR/GBP remains on the downside at this point. A short term top was formed at 0.9097, and the corrective rise from 0.8620 could have completed too. Firm break of 38.2% retracement of 0.8620 to 0.9097 at 0.8915 will affirm our bearish view and target 61.8% retracement at 0.8802 and below. On the upside, though, above 0.9005 minor resistance will turn focus back to 0.9097 high instead.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, 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) 0.8441; (P) 0.8477; (R1) 0.8533; More…

Break of 0.8476 minor support suggests that recovery from 0.8276 has completed at 0.8519. Intraday bias in EUR/GBP is turned back to the downside for retesting 0.8276. On the upside, above 0.8519 will resume the corrective rebound to 38.2% retracement of 0.9324 to 0.8276 at 0.8676.

In the bigger picture, fall from 0.9324 medium term top is still in progress. 38.2% retracement of 0.6935 to 0.9324 at 0.8411 was firmly taken out. Further decline should now be seen to 61.8% retracement at 0.7848 next. 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) 0.8638; (P) 0.8670; (R1) 0.8688; More….

Intraday bias in EUR/GBP remains neutral for the moment. On the upside, decisive break of 0.8700 resistance will carry larger bullish implication and bring stronger rally to 0.8874 resistance next. Nevertheless, rejection by this resistance will maintain bearish outlook that larger down trend is not over. Break of 0.8629 resistance turned support will turn bias back to the downside for 0.8568 support first.

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). Decisive break there will argue that this decline has completed with three waves down to 0.8491. Rise from 0.8491 could then be another leg inside the pattern that targets 0.8977 and above. However, rejection by 0.8700 will keep the down trend alive for another fall through 0.8491 at a later stage.

EUR/GBP extended near term range trading last week, and initial bias stays neutral this week first. Recent development argues that rise from 0.8491 could be the third leg of the corrective pattern from 0.8502. On the upside, above 0.8609 would resume the rebound and target 0.8667 resistance, possibly further to 0.8700. On the downside, however, break of 0.8522 will bring retest of 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.

In the long term picture, long term range pattern is extending. But rise from 0.6935 (2015 low) is expected to resume at a later stage, to 0.9799 (2009 high).

Daily Pivots: (S1) 0.8516; (P) 0.8542; (R1) 0.8558; More…

EUR/GBP’s fall from 0.8593 accelerates lower today and break of 0.8459 suggests that rebound from 0.8401 has completed. Intraday bias is back on the downside for retesting 0.8401. Also, larger down trend is likely still in progress. Break of 0.8401 will extend the fall form 0.9499 to 0.8276 long term support.

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.