Daily Pivots: (S1) 0.8441; (P) 0.8465; (R1) 0.8505; More…

Intraday bias in EUR/GBP remains neutral for the moment. The corrective structure of fall from 0.8529 to 0.8383 suggests that rebound from 0.8312 is still in progress. On the upside, break of 0.8508 will extend the rebound from 0.8312 to 0.8786 resistance next. Further break there will target 0.9304 high. On the downside, below 0.8383 will turn bias to the downside for 0.8303/8312 support zone instead. Overall, EUR/GBP is staying in the corrective pattern from 0.9304 which will extend for a while.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. In case of deeper 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. 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) 0.8864; (P) 0.8884; (R1) 0.8918; More…

EUR/GBP’s rally resumes by breaking 0.8902 temporary top and reaches as high as 0.8929 so far. Intraday bias is back on the upside for 0.9101 key resistance next. On the downside, break of 0.8829 support will turn bias neutral and bring more consolidations first.

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 0.8526). 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.

Daily Pivots: (S1) 0.8847; (P) 0.8858; (R1) 0.8872; More…

No change in EUR/GBP’s outlook as range trading continues inside 0.8686/8928. Intraday bias remains neutral and deeper fall is mildly in favor with 0.8928 resistance intact. 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) 0.8628; (P) 0.8648; (R1) 0.8679; More….

Intraday bias in EUR/GBP remains on the upside at this point. Rebound from 0.8548 would target 0.8764 key resistance next. On the downside, however, break of 0.8597 will turn bias back to the downside for 0.8548 support instead.

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) 0.8718; (P) 0.8754; (R1) 0.8799; More…

Consolidation from 0.8670 is extending and intraday bias remains neutral first. On the upside, break of 0.8863 will confirm short term bottoming at 0.8670. Further rise should be seen to 38.2% retracement of 0.9499 to 0.8670 at 0.8987. On the downside, however, break of 0.8670 will resume the fall from 0.9499 to 0.8276/82 key support zone.

In the bigger picture, while the pull back from 0.9499 is 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) 0.8968; (P) 0.9001; (R1) 0.9057; More…

EUR/GBP rebounds after hitting 0.8945 but upside is limited well below 0.9148 resistance so far. Intraday bias is turned neutral and outlook is unchanged. Corrective pattern from 0.9291 could extend lower. But 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).

EUR/GBP dropped sharp to 0.8529 last week and took out 0.8620 key support. The development suggests resumption larger decline from 0.9305. As a temporary low is in place, initial bias is neutral this week for some consolidations first. Upside of recovery should be limited well below 0.8840 resistance to bring fall resumption. On the downside, break of 0.8529 will target long term projection target at 0.8416 next.

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 seen a a falling leg inside the pattern. Such decline is now targeting 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.

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). As long as 050% retracement of 0.6935 to 0.9304 at 0.8120 holds, further rise should be seen through 0.9305 to 0.9799 and above down the road.

Daily Pivots: (S1) 0.8480; (P) 0.8509; (R1) 0.8538; More…

EUR/GBP recovered after dipping to 0.8449 and intraday bias is turned neutral again. Below 0.8449 will target 0.8303 and break will resume the whole fall from 0.9304. In that case, we’d look for bottoming again at around 0.8116. Meanwhile, sustained break of 38.2% retracement of 0.9304 to 0.8303 at 0.8685 will revive the case of near term reversal. In that case, stronger rise should be seen to 61.8% retracement at 0.8922 and above.

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 0.8230) 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) 0.8532; (P) 0.8554; (R1) 0.8566; More…

EUR/GBP is bounded in range above 0.8517 and intraday bias remains neutral. Also outlook stays bearish for deeper decline. Break of 0.8517 will resume the whole decline 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) 0.8742; (P) 0.8769; (R1) 0.8794; More…

EUR/GBP’s break of 0.8821 confirms resumption of rise from 0.8617. Intraday bias is back on the upside for 61.8% retracement of 0.9101 to 0.8617 at 0.8916. Break will pave the way back to 0.9101 key resistance. On the downside, break of 0.8743 support is needed to indicate completion of the rebound. Otherwise, near term outlook will stay cautiously bullish in case of retreat.

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 breakout of 0.8620 will pave the way back to 0.8312 support . Break of 0.9101 will bring retest of 0.9304/5 resistance.

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

EUR?GBP’s rebound from 0.8470 resumes by breaking through 0.8696 temporary top. Intraday bias is back on the upside for 38.2% retracement of 0.9291 to 0.8470 at 0.8784. Sustained break there will raise the chance that whole pattern from 0.9499 has completed with three waves down to 0.8470. Stronger rise would then be seen back to 61.8% retracement at 0.8977 next. On the downside, however, break of 0.8638 minor support will turn bias back to the downside for retesting 0.8470 low.

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) 0.8937; (P) 0.8952; (R1) 0.8982; More…

EUR/GBP surges to as high as 0.8983 so far today. The solid break of 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963) firstly indicates resumption of rise from 0.8620. It also confirms completion of whole decline from 0.9305. Intraday bias is back on the upside for 61.8% retracement at 0.9043 next. On the downside, below 0.8936 minor support will turn intraday bias neutral first. But outlook will remain bullish as long as 0.8854 support holds and further rise is expected.

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.

EUR/GBP failed to sustain above 0.8700 last week and retreated. But downside is contained by 0.8629 support so far. Initial bias remains neutral this week first. On the upside, decisive break of 0.8700 resistance will 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. Firm 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 of 0.8700 resistance 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 and 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.

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

Daily Pivots: (S1) 0.9084; (P) 0.9104; (R1) 0.9127; More…

Sideway consolidations in EUR/GBP continues and intraday bias remains neutral first. Further rally will remain in favor as long as 0.8930 support holds. Above 0.9139 will target 0.9175 resistance. Break will resume whole rebound from 0.8670 low. Nevertheless, break of 0.8930 will bring deeper fall to 0.8864 support and possibly 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) 0.8592; (P) 0.8602; (R1) 0.8609; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the downside, below 0.8585 minor support will argue that rebound from 0.8529 has completed, and larger fall might be ready to resume. Intraday bias will be back on the downside for 0.8529 support first.

In the bigger picture, outlook remains bearish as EUR/GBP is capped below medium term falling trendline. That is, down trend from 0.9267 (2022 high) is still in progress. Firm break of 0.8491/7 will target 100% projection of 0.8764 to 0.8497 from 0.8643 at 0.8376.

Daily Pivots: (S1) 0.8945; (P) 0.8964; (R1) 0.8990; More…

Intraday bias in EUR/GBP remains neutral for the moment as consolidation from 0.8992 is extending. Further rise is expected as long as 0.8872 resistance holds. But considering bearish divergence condition in 4 hour MACD, we’d look for topping signal as it approaches 0.9101 key resistance. On the downside, break of 0.8872 will indicate short term topping. Deeper pull back could be seen to 55 day EMA (now at 0.8815) first.

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.

Daily Pivots: (S1) 0.8668; (P) 0.8743; (R1) 0.8785; More…

Intraday bias in EUR/GBP is turned neutral against with current retreat. On the upside, break of 0.8827 will resume the rise from 0.8570 to 0.8869. Sustained break there will pave the way back to retest 0.9267 high. On the downside, below 0.8689 minor support will turn bias back to the downside for 0.8570 instead.

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 0.8869 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) 0.8833; (P) 0.8853; (R1) 0.8870; More…

EUR/GBP continues to lose upside momentum as seen in 4 hour MACD. But further rise is in favor as long as 0.8792 support holds. Current rise from 0.8545 would target 61.8% retracement of 0.9276 to 0.8545 at 0.8997 and possibly above. However, break of 0.8792 will argue that the rebound might have completed, and turn bias back tot he downside.

In the bigger picture, fall from 0.9267 is seen as 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.

EUR/GBP reversed after edging higher to 0.8924, and the break of 0.8825 argues that rebound from 0.8753 has completed. The development suggests that corrective pattern from 0.8977 is still extending and it’s probably in another falling leg. Initial bias is now mildly on the downside for 0.8753 support. On the upside, above 0.8924 will bring retest of 0.8977 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.

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) 0.8605; (P) 0.8624; (R1) 0.8636; More…

Intraday bias in EUR/GBP remains neutral and more sideway trading could be seen. 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, e 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.