Daily Pivots: (S1) 0.8564; (P) 0.8587; (R1) 0.8615; More….

EUR/GBP’s recovery from 0.8548 extends higher today but stays well below 0.8648 support turned resistance. intraday bias remains neutral and further decline is expected. On the downside, break of 0.8548 will target 0.8491 low first. Firm break there will resume larger down trend.

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.

Daily Pivots: (S1) 0.8635; (P) 0.8682; (R1) 0.8773; More…

Intraday bias in EUR/GBP remains on the upside at this point. Rebound from 0.8545 short term bottom in in progress for 0.8827 resistance. Firm break there will argue that whole decline from 0.9267 has completed and turn near term outlook bullish. On the downside, break of 0.8675 minor support will turn intraday bias neutral first.

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 0.8827 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) 0.8933; (P) 0.8968; (R1) 0.9034; More…

Intraday bias in EUR/GBP remains neutral first. On the downside, decisive break of 0.8866 will confirm completion of whole corrective rise from 0.8670. In this case, further fall should be seen to this support to extend the pattern from 0.9499. On the upside, though, break of 0.9068 resistance 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) 0.9041; (P) 0.9068; (R1) 0.9097; More…

EUR/GBP’s corrective pull back from 0.9324 might extend lower. But downside should be contained by 0.8891/9051 support zone to bring rebound. support zone to bring rebound. On the upside, break of 0.9157 will turn bias back to the upside for 0.9324 resistance first. 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) 0.8866; (P) 0.8887; (R1) 0.8900; More…

Intraday bias in EUR/USD remains on the downside with focus on 0.8864 support. Firm break there should confirm completion of whole rebound from 0.8670 at 0.9175. Deeper decline would then be seen to retest 0.8670 support. Nevertheless strong rebound from currently level, followed by break of 0.8974 resistance, will turn bias back to the upside for 0.9148/75 resistance zone instead.

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.

Daily Pivots: (S1) 0.8693; (P) 0.8780; (R1) 0.8831; More…

Intraday bias in EUR/GBP is turned neutral again as it retreated after edging higher to 0.8869. On the downside, break of 0.8723 minor support will turn bias back to the downside for resuming the fall from 0.9267 through 0.8647. next target is 0.8338 support. ON the upside, above 0.8869 will resume the rebound from 0.8647 towards 0.9267 resistance.

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) 0.8799; (P) 0.8812; (R1) 0.8829; More…

Risks stays on the downside in EUR/GBP with 0.8927 resistance intact. Fall from 0.8977 would target 0.8720 support first. Decisive break there will argue that whole rebound from 0.8545 has completed, and bring retest to this low.

In the bigger picture, focus is back on 55 day EMA (now at 0.8804). Sustained trading below there will argue that fall from 0.9267 is in progress. Such decline is seen as a leg inside long term range pattern from 0.9499 (2020 high). Break of 0.8545 will pave the way back to 0.8201 (2022 low).

Daily Pivots: (S1) 0.8971; (P) 0.9002; (R1) 0.9027; More…

EUR/GBP attempts to rally and breached 0.9098 resistance but cannot sustain above this level yet. Still, intraday bias is now on the upside. Firm break of f 0.9098 resistance will extend the whole rise from 0.8655 to 0.9304 key resistance next. In any case, near term outlook will remain bullish as long as 0.8927 support holds.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). It should be in medium term rising leg for 0.9304. Meanwhile, in case of another fall, down side should be contained by 0.8620/55 support zone to bring rebound.

Daily Pivots: (S1) 0.8530; (P) 0.8549; (R1) 0.8561; More…

EUR/GBP continues to stay in range of 0.8529/8616 and intraday bias remains neutral for the moment. On the downside, break of of 0.8529 will resume the choppy decline towards retesting 0.8470 low. On the upside, decisive break of 0.8616 resistance will argue that corrective fall from 0.8718 has completed. Further rise would be seen to 0.8670 resistance for confirmation.

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’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) 0.8450; (P) 0.8484; (R1) 0.8512; More…

EUR/GBP is still staying in range of 0.8451/8591 and intraday bias remains neutral first. On the downside, below 0.8451 will bring retest of 0.8276 low. On the upside, break of 0.8591 will extend the rebound form 0.8276 to 38.2% retracement of 0.9324 to 0.8276 at 0.8676.

In the bigger picture, rise from 0.6935 (2015 low) should have completed at 0.9324 already. As long as 0.8786 support turned resistance holds, further decline is expected. Next target is 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and turn focus back to this high.

Daily Pivots: (S1) 0.9108; (P) 0.9138; (R1) 0.9158; More…

EUR/GBP drops sharply to as low as 0.9024 so far today. The break of 0.9067 support, as well as 55 day EMA, raises the chance that rebound from 0.8670 has completed. Intraday bias is turned back to the downside for 0.8866 support for confirmation. For now, risk will remain mildly on the downside as long as 0.9220 resistance holds, in case of recovery.

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) 0.8757; (P) 0.8797; (R1) 0.8852; More…

Intraday bias in EUR/GBP remains neutral for the moment. We’d still expect strong support from 61.8% retracement of 0.8282 to 0.9499 at 0.8747 to contain downside to bring rebound. On the upside, break of 0.8987 minor resistance will turn bias to the upside for retesting 0.9499 high. However, sustained break of 0.8747 will dampen near term bullishness and bring deeper fall back to 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) 0.9001; (P) 0.9016; (R1) 0.9030; More…

Intraday bias in EUR/GBP remains neutral for the moment. As long as 0.9901 support holds, further rise is in favor. On the upside firm break of 61.8% retracement of 0.9499 to 0.8670 at 0.9182 will pave the way to retest 0.9499 high. On the downside, however, break of 0.9001 will argue that whole rebound from 0.8670 has completed. Intraday bias will be turned back to the downside for 0.8864 support and 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) 0.8812; (P) 0.8855; (R1) 0.8876; More…

EUR/GBP drops sharply on hawkish BoE, but it’s still bounded in range of 0.8686/8928. Intraday bias remains neutral for the moment. 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) 0.8778; (P) 0.8813; (R1) 0.8858; More…

Intraday bias in EUR/GBP remains on the upside for retesting 0.8896 resistance. Firm break there will resume whole rise from 0.8896 to 61.8% projection of 0.8545 to 0.8896 from 0.8720 at 0.8937. On the downside, below 0.8765 minor support will turn intraday bias neutral again.

In the bigger picture, the notable support from 55 day EMA (now at 0.8752) retains near term bullishness. Break of 0.8896 should target 0.9267 (2022 high) and possibly above, to resume whole up trend from 0.8201 (2022 low). However, break of 0.8270 support and sustained trading below 55 day EMA will set the stage for 0.8545 and below.

Daily Pivots: (S1) 0.8318; (P) 0.8342; (R1) 0.8381; More…

Intraday bias in EUR/GBP remains neutral as consolidation from 0.8276 extends. 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. However, firm break of 0.8508 will indicate short term bottoming and bring stronger rebound to 55 day EMA (now at 0.8596).

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.

EUR/GBP was still bounded in range of 0.8717/8864 last week. Near term outlook remains mixed for now. On the upside, break of 0.8864 will target 0.8924 resistance first. Firm break there should resume larger rise from 0.8545 through 0.8977 high. However, decisive break of 0.8717 support will resume the decline from 0.8977 instead.

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.

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

Daily Pivots: (S1) 0.8742; (P) 0.8786; (R1) 0.8812; More…

EUR/GBP’s decline continues today and reaches as low as 0.8705 so far. Intraday bias stays on the downside for 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) 0.8912; (P) 0.8933; (R1) 0.8971; More…

EUR/GBP’s rally continues today and reaches as high as 0.8974 so far. Break of trendline in 4 hour MACD suggests upside re-acceleration. Intraday bias stays on the upside for 0.9101 key resistance next. Decisive break there will carry larger bullish implications. On the downside, break of 0.8871 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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.