Daily Pivots: (S1) 0.9007; (P) 0.9043; (R1) 0.9067; More…

Further rise is still expected in EUR/GBP with 0.8938 minor support intact. Current rebound from 0.8670 should target 61.8% retracement of 0.9499 to 0.8670 at 0.9182. Sustained trading above there would pave the way back to retest 0.9499 high. On the downside, through, break of 0.8938 minor support will turn bias back to the downside for 0.8864 support.

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) 0.8802; (P) 0.8835; (R1) 0.8869; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the downside, below 0.8745 will target 61.8% retracement of 0.8312 to 0.9305 at 0.8691 and below. Fall from 0.9305 is seen as the third leg of consolidation pattern from 0.9304. We’ll look for bottoming signal again at it approaches 0.8303 support. On the upside, break of 0.8898 will indicate near term reversal and turn bias back to the upside for 55 day EMA (now at 0.8941) first.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. It’s still in progress with fall from 0.9305 as the third leg. Break of 0.8303 could be seen. But even in that case, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside. Whole up trend from 0.6935 is expected to resume after consolidation from 0.9304 completes.

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.

EUR/GBP edged higher to 0.9175 last week but failed to break through 61.8% retracement of 0.9499 to 0.8670 at 0.9182 and reversed. Initial bias is neutral this week with focus on 0.9001 support. As long as 0.9001 holds, another rise is in favor. Sustained break of 0.9182 will pave the way to retest 0.9499 high. However, firm 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.

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). Decisive break of 0.9799 will target 100% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

Daily Pivots: (S1) 0.9157; (P) 0.9167; (R1) 0.9180; More

EUR/GBP’s rally continues today and reaches as high as 0.9217 so far. Break of channel resistance suggests upside acceleration. Intraday bias remains on the upside for 0.9304 key resistance next. At this point, there 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. But firm break of 0.9304 will confirm up trend resumption and pave the way to 0.9799. On the downside, below 0.9159 minor support will turn intraday bias neutral first.

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. In that case, 2008 high at 0.9799 will be the next target.

Daily Pivots: (S1) 0.8423; (P) 0.8453; (R1) 0.8474; More…

Intraday bias in EUR/GBP is turned neutral with current recovery, but 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) 0.8965; (P) 0.8989; (R1) 0.9014; More…

EUR/GBP is staying in consolidation from 0.9086 and intraday bias remains neutral at this point. As long as 0.8931 resistance turned support holds, further rise is expected. On the upside, decisive break of 0.9098 resistance will extend the rally from 0.8655 and target 0.9304 key resistance next. However, considering bearish divergence condition in 4 hour MACD, firm break of 0.8931 will indicate near term reversal and target 0.8810 support and below.

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) 0.8332; (P) 0.8354; (R1) 0.8393; More…

Intraday bias in EUR/GBP remains neutral for the moment. Considering bullish convergence condition in 4 hour MACD, firm break of 0.8377 resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for 55 day EMA (now at 0.8423). Sustained trading above there will pave the way to 0.8598 resistance next.

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) 0.8435; (P) 0.8449; (R1) 0.8474; More…

Intraday bias in EUR/GBP is turned neutral with current recovery, and some consolidations could be seen. But further fall is still expected. Break of 0.8420 temporary low will resume the larger down trend from 0.9499 to 0.8276 key long term support next. On the upside, though, sustained break of 55 day EMA (now at 0.8533) will bring stronger rebound back to 0.8656 resistance.

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) 0.8659; (P) 0.8760; (R1) 0.8824; More…

Intraday bias in EUR/GBP remains on the downside at this point. Break of 61.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8687 will extend the fall from 0.9324 to 100% projection at 0.8481. On the upside, above 0.8792 minor resistance will turn intraday bias neutral. But recovery should be limited well below 0.9019 resistance to bring fall resumption.

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. 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.

EUR/GBP’s corrective decline from 0.9291 resumed last week by taking out 0.9007 support. Initial bias is now on the downside for deeper decline. Though, 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).

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) 0.8458; (P) 0.8485; (R1) 0.8517; More…

Intraday bias in EUR/GBP remains mildly on the upside at this point. Current development argues that choppy fall from 0.8720 might be completed. Firm break of 100% projection of 0.8338 to 0.8491 from 0.8386 at 0.8539 will affirm this bullish case, and prompt upside acceleration to 161.8% projection at 0.8634 and above. On the downside, break of 0.8386 will resume the fall from 0.8720 through 0.8338 low instead.

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) 0.8742; (P) 0.8791; (R1) 0.8851; More…

Despite steep fall from 0.8909, EUR/GBP is 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) 0.8863; (P) 0.8922; (R1) 0.8961; More…

Focus is now on 0.8866 support in EUR/GBP. Decisive break will confirm completion of corrective rise from 0.8670. 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) 0.8538; (P) 0.8564; (R1) 0.8596; More…

EUR/GBP’s break of 0.8666 confirms resumption of rebound form 0.8303. And the break of 38.2% retracement of 0.9304 to 0.8303 at 0.8685 revived the case of near term reversal. That is, corrective fall from 0.9304 could be finished at 0.8303 already. Intraday bias is back on the upside for 61.8% retracement at 0.8922 and above. At this point, we’re not expecting up trend resumption yet. Thus, 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) 0.8590; (P) 0.8607; (R1) 0.8619; More…

Near term outlook in EUR/GBP stays bearish with 0.8779 resistance intact. Current decline from 0.9267 should target 0.8201/8388 support zone. However, break of 0.8770 will turn bias back to the upside for 0.8869 resistance and above.

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.

Daily Pivots: (S1) 0.8342; (P) 0.8386; (R1) 0.8412; More…

Intraday bias in EUR/GBP remains on the downside for retesting 0.8282 low. Sustained break of 0.8276 key long term support will carry larger bearish implication. On the upside, above 0.8411 minor resistance will turn bias back to the upside for 0.8476 resistance. Break there will resume the rebound from 0.8282.

In the bigger picture, price actions from 0.9499 (2020 high) are still seen a corrective pattern that should be contained by 0.8276 long term support (2019 low). Bullish convergence condition in daily MACD and break of 55 day EMA raises the chance that it might be completed. Sustained trading above 38.2% retracement of 0.9499 to 0.8282 at 0.8747 will affirm this bullish case. However, sustained break of 0.8276 will argue that the long term trend has reversed.

Daily Pivots: (S1) 0.8841; (P) 0.8871; (R1) 0.8891; More…

A temporary top is in place at EUR/GBP with 0.8902 on loss of upside momentum. Intraday bias is turned neutral for some consolidations first. Downside of retreat should be contained 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) 0.8807; (P) 0.8840; (R1) 0.8856; More…

Intraday bias in EUR/GBP remains neutral first and further rally is mildly in favor as long as 0.8790 support holds. Choppy decline from 0.8977 could have completed already. Above 0.8874 will target 0.8924 resistance first. Firm break there will target 0.8977 high next. However, break of 0.8790 will turn bias back to the downside for retesting 0.8717 support again.

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) 0.8409; (P) 0.8436; (R1) 0.8461; More…

Intraday bias in EUR/GBP remains neutral for consolidation above 0.8932 temporary low. Stronger recovery could be seen. Still, further decline is expected as long as 0.8786 resistance holds. 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.

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.