Daily Pivots: (S1) 0.8950; (P) 0.9000; (R1) 0.9026; More…

Outlook in EUR/GBP remains unchanged and intraday bias stays neutral first. Deeper fall cannot be ruled out as corrective fall from 0.9291 extends, 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) 0.8570; (P) 0.8582; (R1) 0.8606; More…

Sideway trading continues in EUR/GBP and intraday bias remains neutral. Current rise from 0.8941 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.

Daily Pivots: (S1) 0.8437; (P) 0.8454; (R1) 0.8479; More…

Intraday bias in EUR/GBP remains neutral at this point. Outlook stays bearish with 0.8585 resistance intact. Fall from 0.8720 is expected to resume sooner or later. Break of 0.8338 will turn bias to back to the downside for retesting 0.8201 low.

In the bigger picture, current development suggests rejection by 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Medium 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.

Daily Pivots: (S1) 0.8833; (P) 0.8852; (R1) 0.8876; More…

EUR/GBP is staying in consolidation below 0.8890 temporary top and intraday bias remains neutral. In case of deeper retreat, downside should by contained by 0.8796 minor support to bring rally resumption. On the upside break of 0.8890 will resume the rebound from 0.8620 and target 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963).

In the bigger picture, EUR/GBP is staying in 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) 0.8964; (P) 0.9002; (R1) 0.9024; More…

Intraday bias in EUR/GBP stays neutral for the moment. Further rise cannot be ruled out with 0.9854 support intact. But we’d be cautious on topping below 0.9101. 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 0.8875) 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 0.8545). 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.

EUR/GBP recovered after edging lower to 0.8548 last week, but upside is capped below 0.8648 support turned resistance so far. Initial bias remains neutral this week first. Some more consolidations could be seen but downside breakout is expected. 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.

In the long term picture, long term range pattern from 0.9799 (2008 high) is extending, and is set to continue until further development.

Daily Pivots: (S1) 0.8515; (P) 0.8542; (R1) 0.8566; More…

EUR/GBP failed to break through 0.8563 minor resistance decisively, and intraday bias remains neutral. On the upside, firm break of 0.8563 will suggest short term bottoming, on bullish convergence condition in 4H MACD. Intraday bias will be turned to the upside for stronger rebound to 55 D EMA (now at 0.8610). On the downside, break of 0.8512 will resume the fall from 0.8764 to retest 0.8491 support instead.

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) 0.8821; (P) 0.8847; (R1) 0.8882; More…

EUR/GBP’s rebound from 0.8686 extends higher. But it’s still bounded in inside 0.8686/8928. Intraday bias remains neutral first. And, 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.

Daily Pivots: (S1) 0.8833; (P) 0.8857; (R1) 0.8872; More…

Intraday bias in EUR/GBP remain neutral for consolidation above 0.8902 temporary top. Downside of retreat should be contained well above 0.8681 resistance turned support to bring rise resumption. On the upside, break of 0.8902 will turn bias back to the upside and target 0.9101 key resistance next.

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) 0.8877; (P) 0.8903; (R1) 0.8938; More…

EUR/GBP is losing some upside momentum as seen in 4 hour MACD. But further rise is expected as long as 0.8824 support holds. Decisive break of 0.8939 resistance will pave the way to 0.9098 high. However, break of 0.8824 will now suggest completion of the rebound from 0.8655. Intraday bias will be turned back to the downside 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.

Daily Pivots: (S1) 0.8442; (P) 0.8453; (R1) 0.8463; More…

Intraday bias in EUR/GBP remains neutral first as consolidations continue above 0.8396. Outlook will remain bearish as long as 0.8482 support turned resistance holds. Below 0.8396 will resume larger down trend to 0.8376 projection level next.

In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 100% projection of 0.8764 to 0.8497 from 0.8643 at 0.8376. Sustained break there will target 161.8% projection at 0.8211 next. For now, outlook will remain bearish as long as 0.8643 resistance holds, even in case of stronger rebound.

Daily Pivots: (S1) 0.8885; (P) 0.8907; (R1) 0.8926; More…

With 0.8956 minor resistance intact, intraday bias in EUR/GBP stays mildly on the downside despite diminishing downside momentum. As noted before, corrective rise from 0.8620 could have completed at 0.9097 already. Current fall should target 61.8% retracement at 0.8802 and below. On the upside, above 0.8956 minor resistance will turn intraday bias neutral first. But outlook will remain cautiously bearish as long as 0.9051 resistance holds.

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) 0.8658; (P) 0.8676; (R1) 0.8687; More…

No change in EUR/GBP’s outlook. Further decline is expected as long as 0.8717 resistance holds. Current fall from 0.8977 should target 100% projection of 0.8977 to 0.8717 from 0.8874 at 0.8614. On the upside, however, break of 0.8717 will indicate short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, current development argues that whole decline from 0.9267 (2022 high) is still in progress. This is part of the long term range pattern from 0.9499 (2020 high). Deeper fall would be seen through 0.8545 support. This will now remain the favored case as long as 0.8874 resistance holds.

Daily Pivots: (S1) 0.8635; (P) 0.8663; (R1) 0.8679; More…

Intraday bias in EUR/GBP remains neutral at this point and outlook is unchanged. On the upside, break of 0.8718 will resume the rise from 0.8470 to 38.2% retracement of 0.9291 to 0.8470 at 0.8784. On the downside, however, break of 0.8587 will turn bias back to the downside for retesting 0.8470 low.

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 medium term outlook bearish.

Daily Pivots: (S1) 0.8716; (P) 0.8754; (R1) 0.8785; More…

Outlook in EUR/GBP is unchanged and intraday bias stays neutral. On the upside, above 0.8808 will target 0.8844 first. Firm break there will finally confirm our bullish view and resume the rebound from 0.8620 to 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). On the downside, however, break of 0.8679 minor support should indicate completion of the rebound form 0.8620. And intraday bias will be turned back to the downside for this support.

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) 0.8813; (P) 0.8841; (R1) 0.8856; More…

Intraday bias in EUR/GBP remains neutral for the moment. As long as 0.8808 minor support holds, further rise is mildly in favor. On the upside, break of 0.8901 will resume the rebound fro 0.8620 and target 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). However, break of 0.8808 support will be the first sign that whole rebound from 0.8620 is completed. Deeper fall would then be seen to 0.8724 support for confirmation.

In the bigger picture, EUR/GBP is staying in 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 from 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) 0.8670; (P) 0.8708; (R1) 0.8763; More…

Intraday bias in EUR./GBP stays neutral for the moment. Another rise is expected as long as 0.8449 minor support holds. Rebound from 0.8303 is seen as the second leg of the consolidation pattern from 0.9304. Above 0.8764 will target 61.8% retracement of 0.9304 to 0.8303 at 0.8922 and above. We’ll expect strong resistance above 0.8922 to limit upside and bring another fall. On the downside, below 0.8449 will turn bias to the downside for retesting 0.8303 first. Break there will extend the whole fall from 0.9304. In that case, we’ll look for bottoming signal again at around 0.8116.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. Deeper fall cannot be ruled out yet. But we’d expect strong support around 55 weeks EMA (now at 0.8243) to contain downside. Overall, the corrective pattern would take some time to complete before long term up trend resumes at a later stage. Break of 0.9304 will pave the way to 0.9799 (2008 high).

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Daily Pivots: (S1) 0.9126; (P) 0.9152; (R1) 0.9189; More…

Intraday bias in EUR/GBP remains neutral at his point and further rise is expected with 0.9067 support intact. On the upside, break of 0.9291 will resume whole rally from 0.8670. Intraday bias will be turned to the upside for 100% projection of 0.8670 to 0.9175 from 0.8866 at 0.9371. However, sustained break of 0.9067 will dampen this bullish view and turn bias to the downside for 0.8866 support instead.

In the bigger picture, at this point, we’re 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).

Daily Pivots: (S1) 0.8794; (P) 0.8815; (R1) 0.8835; More…

Intraday bias in EUR/GBP remains neutral and outlook is unchanged. On the downside, firm break of 100% projection of 0.9291 to 0.8861 from 0.9229 at 0.8799 will indicate downside acceleration for 0.8670 support, as part of the corrective pattern from 0.9499. However, break of 0.8917 will indicate short term bottoming, and turn bias to the upside for stronger rebound.

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).

EUR/GBP rebounded strongly ahead of 0.8472 low last week. But still outlook is unchanged that price action form 0.8472 is seen as a consolidation pattern. In case of further rise, upside should be limited below 0.8681 resistance. On the downside, decisive break of 0.8472 will confirm resumption of down trend from 0.9101 and target 61.8% projection of 0.9101 to 0.8472 from 0.8681 at 0.8292 next.

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.

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 50% 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.