Daily Pivots: (S1) 0.9051; (P) 0.9073; (R1) 0.9091; More…

Intraday bias in EUR/GBP is turned neutral with a temporary top formed at 0.9112. Further is expected and break of 0.9112 will target 0.9175 resistance first. Break there will resume whole rebound from 0.8670. Next target will be 61.8% projection of 0.8670 to 0.9175 from 0.8930 at 0.9242. On the downside, below 0.9034 minor support will dampen this bullish case and turn intraday bias back to the downside..

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) 0.85868573; (P) 0.8595; (R1) 0.8610; More…

EUR/GBP is staying in consolidation from 0.8517 and intraday bias stays neutral. On the downside, break of 0.8517 will resume the whole fall from 0.8977. On the upside, above 0.8657 resistance will resume the rebound from 0.8517 towards 0.8717 support turned resistance.

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 could 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) 0.9156; (P) 0.9177; (R1) 0.9206; More…

Intraday bias in EUR/GBP remains neutral first. 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) 0.8552; (P) 0.8570; (R1) 0.8591; More….

EUR/GBP is still bounded in sideway consolidation despite brief dip to 0.8548. Intraday bias remains neutral at this point. IN case of another recovery, upside should be limited below 0.8648 support turned resistance to bring another decline. Below 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) 0.8863; (P) 0.8888; (R1) 0.8902; More…

Outlook in EUR/GBP remains unchanged and intraday bias stays neutral. Further rise is expected as long as 0.8720 support holds. On the upside, break of 0.8977 will resume whole rise from 0.8545 to 100% projection of 61.8% projection of 0.8545 to 0.8896 from 0.8720 at 0.9071.

In the bigger picture, the notable support from 55 day EMA (now at 0.8780) 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) 0.8740; (P) 0.8761; (R1) 0.8778; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the upside, break of 0.8842 resistance will argue that corrective fall from 0.8977 has completed, after touching 0.8720 support. Further rise should be seen back to 0.8924 resistance and above. However, sustained break of 0.8720 will bring deeper decline to 0.8545 instead.

In the bigger picture, outlook is 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) 0.8542; (P) 0.8568; (R1) 0.8611; More…

EUR/GBP’s rally resumed after brief consolidation and intraday bias is back on the upside. Further rally should be seen to 0.8697 medium term fibonacci level next. On the downside, break of 0.8514 support is needed to signal short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP’s break of 0.8570 support confirmed resumption of whole decline from 0.9267. Initial bias stays on the downside this week for 61.8% projection of 0.9267 to 0.8647 from 0.8827 at 0.8444 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.

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).

EUR/GBP dropped to as low as 0.8469 last week but lost momentum ahead of 0.8449 support and recovered. Initial bias is neutral this week first. The sustained trading below near term channel suggests that corrective rise from 0.8303 has completed at 0.8851 already. We’d favor deeper fall as long as 0.8650 minor resistance holds. Break of 0.8449 will argue that corrective fall from 0.9304 has started the third leg for 0.8116 cluster support. Nonetheless, break of 0.8650 will turn focus back to 0.8851 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).

In the long term picture, firstly, price action from 0.9799 is seen as a long term corrective pattern and should have completed at 0.6935. 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 consolidation from 0.9304 completes, we’d expect another medium term up trend to target 0.9799 high and above.

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Daily Pivots: (S1) 0.8515; (P) 0.8539; (R1) 0.8572; More…

Intraday bias in EUR/GBP remains on the downside at this point. Current decline is part of the pattern for 0.9499. Deeper fall should be seen to 0.8276 key support level. We’d look for bottoming signal as it approaches this support. Nevertheless, break of 0.8644 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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) 0.8742; (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) 0.8388; (P) 0.8401; (R1) 0.8417; More…

Intraday bias in EUR/GBP remains neutral for the moment. In case of another recovery, upside should be limited by 4 hour 55 EMA (now at 0.8427). On the downside, break of 0.8381 will resume larger down trend from 0.9499. Intraday bias will be back to the downside for 0.8276 key 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 0.8593 resistance holds, towards long term support at 0.8276. We’d look for bottoming signal around there to bring reversal. However, sustained break of 0.8276 will but a sign of long term bearish reversal.

Daily Pivots: (S1) 0.8639; (P) 0.8667; (R1) 0.8694; More…

Intraday bias in EUR/GBP is turned neutral with current retreat. Another rise is mildly in favor with 0.8620 minor support intact. Break of 0.8696 will resume the rebound from 0.8470 short term bottom, to 38.2% retracement of 0.9291 to 0.8470 at 0.8784. On the downside, however, below 0.8620 minor support will bring retest of 0.8470 support instead.

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) 0.8965; (P) 0.8988; (R1) 0.9009; More…

Consolidation from 0.9086 is still in progress and intraday bias remains neutral first. Downside of the consolidation should be contained by 0.8931 resistance turned support to bring another rise. On the upside firm break of 0.9098 resistance will extend the whole rise from 0.8655 to 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) 0.8499; (P) 0.8510; (R1) 0.8518; More…

Intraday bias in EUR/GBP remains on the downside at this point. Current fall is part of the pattern for 0.9499 and would target 0.8276 key support level. We’d look for bottoming signal as it approaches this support. On the upside, above 0.8532 minor resistance will turn bias neutral first. But, break of 0.8644 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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) 0.8582; (P) 0.8600; (R1) 0.8615; More…

Intraday bias in EUR/GBP remains neutral at this point. On the downside, below 0.8559 will target a test on 0.8470 low. On the upside, though, break of 0.8718 will resume the rebound from 0.8470 to 38.2% retracement of 0.9291 to 0.8470 at 0.8784.

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.

Near term outlook in EUR/GBP remains mixed and initial bias stays neutral this week first. On the downside, break of 0.8679 support should confirm completion of the rebound form 0.8620. And intraday bias will be turned back to the downside for this support. Whole decline from 0.9305 will likely be resuming too. On the upside, above 0.8844 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, 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.

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). Hence, after the consolidation 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) 0.8456; (P) 0.8473; (R1) 0.8486; More…

Intraday bias in EUR/GBP remains on the downside for 0.8402 support. As noted before, consolidation from 0.8303 could be completed at 0.8786. Fall from 0.8786 is developing as the third leg of the correction from 0.9304. Decisive break of 0.8402 support will confirm our bearish view and target 0.8303 and below. At this point, we’d expect front support from 0.8116/20 cluster support to contain downside and complete the correction from 0.9304. On the upside, break of 0.8589 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay cautiously bearish in case of recovery.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. Such decline is likely ready to resume and should make a new low below 0.8303. At this point, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside. Rise from 0.6935 (2015 low) will resume at a later stage to 0.9799 (2008 high). However, sustained break of 0.8116 could bring deeper decline to next key support level at 0.7564 before the correction completes.

Daily Pivots: (S1) 0.8836; (P) 0.8862; (R1) 0.8890; More…

EUR/GBP’s break of 0.8824 minor support argues that rebound from 0.8655 might be completed at 0.8931, after being rejected by 0.8939 resistance. Intraday bias is turned back to the downside for retesting 0.8655. On the upside, firm break of 0.8939 resistance will confirm completion of the fall from 0.9098 and turn outlook bullish for this resistance.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Sustained break of 0.8939 resistance will confirm that it’s in a medium term rising leg for 0.9098 and above. And for now, in case of another fall, downside will likely be contained by 0.8620/55 support zone to bring rebound.

Daily Pivots: (S1) 0.9035; (P) 0.9051; (R1) 0.9074; More…

EUR/GBP’s rally extends to as high as 0.9073 so far today. Intraday bias remains on the upside for the moment. Sustained trading above 61.8% retracement of 0.9305 to 0.8620 at 0.9043 will pave the way to retest 0.9305 key resistance. On the downside, below 0.9033 minor support will turn bias neutral and bring consolidations. But near term outlook will stay bullish as long as 0.8895 support holds.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). The corrective structure of the fall from 0.9305 to 0.8620 is raising the chance that rise from 0.8312 to 0.9305 is an impulsive move. But we’re not too confident on it yet. In any case, 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.