EUR/GBP rose further to 0.8744 last week but retreated since then. Initial bias remains neutral this week first. At this point, we’re still viewing price actions from 0.8276 as a corrective pattern. Hence, in case of another rise, we’d expect strong resistance from 0.8786 resistance to limit upside. Break of 0.8594 support will turn bias back to the downside for retesting 0.8276 low. However, sustained break of 0.8786 will indicate near term bullishness for 61.8% retracement of 0.9324 to 0.8276 at 0.8924 next.

In the bigger picture, there are various interpretations on the price actions from 0.9324. It could be the third leg of the pattern from 0.9799 (2008 high). Or it could just be correcting the rise from 0.6935 (2015 low) to 0.9324. But in any case, as long as 0.8786 support turned resistance holds, further decline is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848 next. Firm break of 0.8786, however, will bring retest of 0.9324 high.

In the long term picture, fall from 0.9324 is currently seen as the third leg of the whole pattern from 0.9799 (2008 high). It’s a bit early to judge how deep 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) 0.8637; (P) 0.8659; (R1) 0.8697; More…

Intraday bias in EUR/GBP remains neutral at this point. Price actions from 0.8726 are viewed as a consolidation pattern. Larger outlook remains bearish with 0.8786 resistance intact. On the downside, break of 0.8594 minor support will turn bias back to the downside for retesting 0.8276 low. However, sustained break of 0.8786 will indicate near term bullishness for 61.8% retracement of 0.9324 to 0.8276 at 0.8924 next.

In the bigger picture, there are various interpretations on the price actions from 0.9324. It could be the third leg of the pattern from 0.9799 (2008 high). Or it could just be correcting the rise from 0.6935 (2015 low) to 0.9324. But in any case, as long as 0.8786 support turned resistance holds, further decline is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848 next. Firm break of 0.8786, however, will bring retest of 0.9324 high.

Daily Pivots: (S1) 0.8619; (P) 0.8682; (R1) 0.8714; More…

A temporary top is formed at 0.8744 in EUR/GBP and intraday bias is turned neutral first. At this point, price actions from 0.8726 are viewed as a consolidation pattern. Larger outlook remains bearish with 0.8786 resistance intact. On the downside, break of 0.8594 minor support will turn bias back to the downside for retesting 0.8276 low. However, sustained break of 0.8786 will indicate near term bullishness for 61.8% retracement of 0.9324 to 0.8276 at 0.8924 next.

In the bigger picture, there are various interpretations on the price actions from 0.9324. It could be the third leg of the pattern from 0.9799 (2008 high). Or it could just be correcting the rise from 0.6935 (2015 low) to 0.9324. But in any case, as long as 0.8786 support turned resistance holds, further decline is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848 next. Firm break of 0.8786, however, will bring retest of 0.9324 high.

Daily Pivots: (S1) 0.8684; (P) 0.8714; (R1) 0.8746; More…

Further rise is expected in EUR/GBP with 0.8594 support intact. Current rise from 0.8282 should target 50% retracement of 0.9324 to 0.8276 at 0.8800. On the downside, below 0.8594 minor support will turn intraday bias neutral first.

In the bigger picture, decline from 0.9324 should have made a bottom at 0.8276. But price actions from there is seen as a corrective move for the moment. Upside should be limited by 0.8786 support turned resistance to bring decline resumption. Break of 0.8276 will target 61.8% retracement of 0.6935 to 0.9324 at 0.7848.

Daily Pivots: (S1) 0.8636; (P) 0.8689; (R1) 0.8783; More…

With 0.8594 minor support intact, intraday bias in EUR/GBP remains on the upside as rise from 0.8276 is in progress to 50% retracement of 0.9324 to 0.8276 at 0.8800. On the downside, below 0.8594 minor support will turn intraday bias neutral first.

In the bigger picture, decline from 0.9324 should have made a bottom at 0.8276. But price actions from there is seen as a corrective move for the moment. Upside should be limited by 0.8786 support turned resistance to bring decline resumption. Break of 0.8276 will target 61.8% retracement of 0.6935 to 0.9324 at 0.7848.

Daily Pivots: (S1) 0.8535; (P) 0.8589; (R1) 0.8655; More…

EUR/GBP’s rally extends further today and intraday bias remains on the upside. Sustained trading above 38.2% retracement of 0.9324 to 0.8276 at 0.8676 will pave the way to 50% retracement at 0.8800. On the downside, below 0.8574 minor support will turn intraday bias neutral first.

In the bigger picture, decline from 0.9324 should have made a bottom at 0.8276. But price actions from there is seen as a corrective move for the moment. Upside should be limited by 0.8786 support turned resistance to bring decline resumption. Break of 0.8276 will target 61.8% retracement of 0.6935 to 0.9324 at 0.7848.

EUR/GBP’s rebound from 0.8282 extended to as high as 0.8641 last week. Break of 0.8595 completes a double bottom pattern ( 0.8276, 0.8282). Initial bias remains on the upside this week for38.2% retracement of 0.9324 to 0.8276 at 0.8676. Break will target 50% retracement at 0.8800. On the downside, below 0.8521 minor support will turn intraday bias neutral first.

In the bigger picture, decline from 0.9324 should have made a bottom at 0.8276. But price actions from there is seen as a corrective move for the moment. Upside should be limited by 0.8786 support turned resistance to bring decline resumption. Break of 0.8276 will target 61.8% retracement of 0.6935 to 0.9324 at 0.7848.

In the long term picture, fall from 0.9324 is currently seen as the third leg of the whole pattern from 0.9799 (2008 high). It’s a bit early to judge how deep 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) 0.8462; (P) 0.8503; (R1) 0.8575; More…

Intraday bias in EUR/GBP remains on the upside as rise from 0.8282 is in progress. Such rally is seen as the third leg of the consolidation pattern from 0.8276. Strong resistance should be seen from 0.8537/8595 resistance zone to limit upside. On the downside, break of 0.9415 support turned resistance will bring retest of 0.8276 low.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8595 will argue that fall from 0.9324 has completed and bring stronger rebound.

Daily Pivots: (S1) 0.8379; (P) 0.8410; (R1) 0.8465; More…

EUR/GBP’s rebound from 0.8282 resumed by taking out 0.8415 and reaches as high as 0.8449 so far. Intraday bias is back on the upside. Current rise is seen as the third leg of the consolidation pattern form 0.8276. Further rally would be seen to 0.8537/8595 resistance zone. On the downside, though, break of 0.8338 support will bring retest of 0.8276 low instead.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8595 will argue that fall from 0.9324 has completed and bring stronger rebound.

Daily Pivots: (S1) 0.8338; (P) 0.8370; (R1) 0.8401; More…

Outlook in EUR/GBP is unchanged and intraday bias remains neutral first. Consolidation from 0.8276 might be in it’s third leg. On the upside, break of 0.8415 will turn bias to the upside for 0.8537/8595 resistance zone. On the downside, decisive break of 0.8276 will confirm resumption of whole fall from 0.9324.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8595 will argue that fall from 0.9324 has completed and bring stronger rebound.

Daily Pivots: (S1) 0.8356; (P) 0.8382; (R1) 0.8419; More…

Intraday bias in EUR/GBP remains neutral first and outlook is unchanged. Consolidation form 0.8276 might be in it’s third leg. On the upside, break of 0.8415 will turn bias to the upside for 0.8537/8595 resistance zone. On the downside, decisive break of 0.8276 will confirm resumption of whole fall from 0.9324.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8595 will argue that fall from 0.9324 has completed and bring stronger rebound.

Daily Pivots: (S1) 0.8348; (P) 0.8367; (R1) 0.8390; More…

Intraday bias in EUR/GBP is neutral for the moment. Consolidation form 0.8276 might be in it’s third leg. On the upside, break of 0.8415 will turn bias to the upside for 0.8537/8595 resistance zone. On the downside, decisive break of 0.8276 will confirm resumption of whole fall from 0.9324.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8595 will argue that fall from 0.9324 has completed and bring stronger rebound.

EUR/GBP edged lower to 0.8282 last week but recovered ahead of 0.8276 low. A short term bottom could be formed and consolidation form 0.8276 might be in it’s third leg. On the upside, break of 0.8415 will turn bias to the upside for 0.8537/8595 resistance zone. On the downside, decisive break of 0.8276 will confirm resumption of whole fall from 0.9324.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8595 will argue that fall from 0.9324 has completed and bring stronger rebound.

In the long term picture, fall from 0.9324 is currently seen as the third leg of the whole pattern from 0.9799 (2008 high). It’s a bit early to judge how deep 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) 0.8349; (P) 0.8382; (R1) 0.8407; More…

EUR/GBP retreated after hitting 0.8415 and intraday bias is turned neutral first. Rise from 0.8282 might be the third leg of the consolidation pattern from 0.8276. Above 0.8415 will target 55 day EMA (now at 0.8473) and above. Nevertheless, decisive break of 0.8276 will confirm resumption of whole fall from 0.9324.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 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 bring stronger rebound.

Daily Pivots: (S1) 0.8317; (P) 0.8342; (R1) 0.8390; More…

EUR/GBP’s break of 0.8348 minor resistance suggests short term bottoming at 0.8282, ahead of 0.8276 low. Consolidation pattern from 0.8276 might be extending with another rising leg. Intraday bias is back on the upside for 55 day EMA (now at 0.8473). On the downside, decisive break of 0.8276 will confirm resumption of whole fall from 0.9324.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 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 bring stronger rebound.

Daily Pivots: (S1) 0.8274; (P) 0.8311; (R1) 0.8340; More…

Intraday bias in EUR/GBP remains on the downside with focus on 0.8276 low. Decisive break there will resume whole fall from 0.9324. Next target is 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8348 minor resistance will turn bias to the upside, and extend the consolidation from 0.8276 with another rising leg.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 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 bring stronger rebound.

Daily Pivots: (S1) 0.8313; (P) 0.8324; (R1) 0.8344; More…

Further fall is expected in EUR/GBP with 0.8386 support turned resistance intact. Decisive break of 0.8276 low will resume whole fall from 0.9324. Next target is 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8386 will turn bias to the upside, and extend the consolidation from 0.8276 with another rising leg.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 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 bring stronger rebound.

Daily Pivots: (S1) 0.8285; (P) 0.8315; (R1) 0.8330; More…

Intraday bias in EUR/GBP stays on the downside for 0.8276 low. Firm break there will confirm resumption of whole fall from 0.9324. Next target is 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8386 support turned resistance will turn bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 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 bring stronger rebound.

EUR/GBP’s sharp decline last week argues that fall from 0.9324 is ready to resume. Initial bias remains on the downside this week for 0.8276 low first. Break will confirm this bearish case and target 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8386 support turned resistance will turn bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 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 bring stronger rebound.

In the long term picture, fall from 0.9324 is currently seen as 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) 0.8272; (P) 0.8336; (R1) 0.8376; More…

Intraday bias in EUR/GBP remains on the downside for 0.8276 low first. Decisive break there resume larger decline from 0.9324. Next downside target will be 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8339 minor resistance will turn bias neutral and bring consolidations first, before staging another fall..

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8786 support turned resistance holds, further fall is expected to 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.