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) 0.8543; (P) 0.8592; (R1) 0.8638; More…

Intraday bias in EUR/GBP is back on the downside with break of 0.8570 temporary low. Fall from 0.9267 is resuming and should target 0.8338 support next. On the upside, above 0.8674 minor resistance will turn intraday bias neutral first. But further decline will remain in favor as long as 0.8827 resistance holds.

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) 0.8527; (P) 0.8554; (R1) 0.8580; More…

For now, further decline is expected in EUR/GBP with 0.8611 resistance intact. Fall from 0.8977 should target 161.8% projection of 0.8977 to 0.8717 from 0.8874 at 0.8453. However, break of 0.8611 resistance will indicate short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, the down trend from 0.9267 (2022 high) is still in progress. It’s seen as part of the long term range pattern from 0.9499 (2020 high). Deeper fall would be seen towards 0.8201 (2022 low). But strong support should be seen from there to bring reversal. This will now remain the favored case as long as 0.8717 support turned resistance holds.

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) 0.8733; (P) 0.8759; (R1) 0.8798; More…

Intraday bias in EUR/GBP remains neutral at this point. Near term outlook stays bearish as long as 0.8928 resistance holds and deeper fall is expected. Firm break of 0.8686 support 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.

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) 0.8713; (P) 0.8733; (R1) 0.8757; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the upside, break of 0.8757 minor resistance will turn bias back to the upside to extend recent sideway pattern with another rebound, towards 0.8967. Nonetheless, break of 0.8666 again and sustained trading below 0.8686 will resume whole fall from 0.9305 and target 0.8303 key support next.

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) 0.8531; (P) 0.8538; (R1) 0.8550; More…

Intraday bias in EUR/GBP remains neutral as consolidation continues above 0.8512 support. Further decline is expected with 0.8591 resistance intact. On the downside, below 0.8512 will resume the fall from 0.8713 to 0.8491, and then 0.8464 projection level. However, firm break of 0.8591 will turn bias back to the upside for stronger rebound.

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) 0.8740; (P) 0.8822; (R1) 0.8872; More

Intraday bias in EUR/GBP remains on the downside for 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 the consolidation pattern from 0.9304. We’ll look for bottoming signal again at it approaches 0.8303 support. On the upside, above 0.8865 minor resistance will turn intraday bias neutral and bring recovery, before staging another fall.

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 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) 0.8590; (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) 0.8904; (P) 0.8950; (R1) 0.8979; More…

EUR/GBP drops notably today abut stays in range of 0.8861/9229. Intraday bias remains neutral first. With 0.8861 support intact, choppy rise from 0.8670 is in favor to extend. On the upside, decisive break of 0.9291 will target 0.9449 high. On the downside, however, break of 0.8861 will bring deeper fall back to 0.8670 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. Decisive break of 0.9499 will target 0.9799 (2008 high).

EUR/GBP rebounded last week but failed to break through 0.9032 resistance. Initial bias remains neutral this week. 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.

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) 0.8636; (P) 0.8660; (R1) 0.8681; More…

EUR/GBP lost some upside momentum after hitting 0.8682. But further rise is still expected as long as 0.8546 support stays intact. As noted before, rise from 0.8402 is viewed as the third leg of the corrective price actions from 0.8303.Such rally would target 0.8851 resistance and above. However, whole price actions from 0.8303 are viewed as the second leg of the correction from 0.9304. Hence, we’d expect strong resistance from 100% projection of 0.8303 to 0.8851 from 0.8402 at 0.8950 to limit upside. On the downside, below 0.8546 minor support will turn bias back to the downside for 0.8402 support. instead

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 from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) 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).

Daily Pivots: (S1) 0.8550; (P) 0.8560; (R1) 0.8570; More…

Intraday bias in EUR/GBP stays neutral at this point. On the upside, firm break of 0.8577 will resume the rebound from 0.8497. On the downside, decisive break of 0.8491/7 support zone will resume larger down trend.

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) 0.8476; (P) 0.8502; (R1) 0.8516; More…

Intraday bias in EUR/GBP remains neutral at this point. On the upside, firm break of 0.8593 resistance will be the first sign of larger bullish reversal and target 0.8656 resistance next. On the downside, however, break of 0.8452 will turn bias back to the downside to retest 0.8379 low instead.

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 0.8593 resistance holds, towards long term support at 0.8276. We’d look for bottoming signal around there to bring reversal. Meanwhile, firm break of 0.8593 will now be an early sign of medium term bottoming. Further break of 0.8656 will pave the way to 38.2% retracement of 0.9499 to 0.8379 at 0.8807.

Daily Pivots: (S1) 0.8662; (P) 0.8682; (R1) 0.8695; More….

Focus stays on 0.8700 resistance in EUR/GBP. Decisive break there 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.

Daily Pivots: (S1) 0.8760; (P) 0.8796; (R1) 0.8837; More…

No change in EUR/GBP as it’s staying in range of 0.8732/9032. Intraday bias remains neutral and outlook stays bearish with 0.9032 resistance intact. That is, fall from 0.9305 is expected to resume later. Break of 0.8732 will target 0.8303 key support level. Nonetheless, 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) 0.8530; (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.

Daily Pivots: (S1) 0.8667; (P) 0.8705; (R1) 0.8739; More…

EUR/GBP recovered quickly after edging lower to 0.8670 and intraday bias is turned neutral first. Further decline is expected as long as 0.8863 resistance holds. Below 0.8670 will resume the decline from 0.9499 towards 0.8276/82 key support zone. However, break of 0.8863 will indicate short term bottoming and turn bias to the upside for stronger rebound.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The upside 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) 0.8545; (P) 0.8557; (R1) 0.8566; More…

Intraday bias in EUR/GBP remains on the downside for the moment. Current fall from 0.8713 is part of the larger down trend. Deeper decline should be seen to 0.8491 low, and then 0.8464 projection level. On the upside, above 0.8591 minor resistance will turn intraday bias neutral and bring consolidations again.

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) 0.8578; (P) 0.8616; (R1) 0.8641; More…

EUR/GBP is staying in consolidation from 0.8472 and intraday bias remains neutral. In case of another rise, upside should be limited by 0.8722 resistance. On the downside, firm break of 0.8472 will resume larger down trend for 0.8416 long term projection next. On the upside, though, sustained break of 0.8722 will suggest near term reversal and bring stronger rise back to 0.8840 resistance and above.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Current fall from 0.9305 (2017 high) is a falling leg inside the pattern. Such decline could extend to 100% projection of 0.9305 to 0.8620 from 0.9101 at 0.8416 and possibly below. But for now, we’d expect strong support around 0.8312 support to contain downside and bring rebound.