Daily Pivots: (S1) 0.8928; (P) 0.8944; (R1) 0.8960; More…

EUR/GBP’s break of 4 hour 55 EMA suggests that rebound from 0.8670 has completed at 0.9000, after hitting 38.2% retracement of 0.9499 to 0.8670 at 0.8987. Intraday bias is back on the downside for 55 day EMA (now at 0.8802). Break will target a test on 0.8670 support. On the upside, sustained break of 0.8987 will indicate completion of whole fall from 0.9499. Further rally should be seen to 61.8% retracement at 0.9182 and above.

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.

EUR/GBP reversed after edging higher to 0.8752 last week. Current development suggests that price actions from 0.8752 are correcting whole rally from 0.8491. Initial bias is mildly on the downside this week for 38.2% retracement of 0.8491 to 0.8752 at 0.8652 and below. But downside should be contained by 0.8614 support to bring rebound.

In the bigger picture, current development suggests that whole down trend from 0.9267 (2022 high) has completed with three down to to 0.8491. Rise from 0.8491 is seen as another leg inside that pattern from 0.9499 (2020 high). Further rally should be seen to 0.8977 resistance and above. This will remain the favored case as long as 0.8614 support holds.

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) 0.8541; (P) 0.8552; (R1) 0.8559; More…

No change in EUR/GBP’s outlook and intraday bias stays mildly on the downside. Deeper fall would be seen to retest 0.8491 low. Firm break there will resume larger down trend. On the upside, above 0.8609 minor resistance will bring another rebound. But in any case, outlook will stay bearish as long as 0.8667 resistance holds.

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). Further decline is in favor as long as 0.8667 resistance holds. Break of 0.8491 will resume the fall towards 0.8201 (2022 low).

Daily Pivots: (S1) 0.8358; (P) 0.8380; (R1) 0.8396; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the downside, below 0.8344 minor support will bring retest of 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) 0.8944; (P) 0.8963; (R1) 0.8989; More…

Intraday bias in EUR/GBP stays neutral as consolidation from 0.9030 short term top is extending. Deeper decline cannot be ruled out as the consolidation extends. But downside should be contained by 0.8854 support to bring rally resumption. On the upside, firm break of 61.8% retracement of 0.9305 to 0.8620 at 0.9043 will pave the way to retest 0.9305 key resistance. However, sustained break of 0.8854 will indicate near term reversal and turn outlook bearish.

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.

Daily Pivots: (S1) 0.8698; (P) 0.8723; (R1) 0.8738; More….

Intraday bias in EUR/GBP is mildly on the downside at this point. Fall from 0.8754 is seen as the third leg of the consolidation pattern from 0.8752, and should target 0.8648. But strong support should be seen around there to complete the consolidation. On the upside, decisive break of 0.8752/4 will resume whole rise from 0.8491 to 0.8874 resistance next.

In the bigger picture, current development suggests that whole down trend from 0.9267 (2022 high) has completed with three down to to 0.8491. Rise from 0.8491 is seen as another leg inside that pattern from 0.9499 (2020 high). Further rally should be seen to 0.8977 resistance and above. This will remain the favored case as long as 0.8614 support holds.

Daily Pivots: (S1) 0.8828; (P) 0.8851; (R1) 0.8877; More…

Intraday bias in EUR/GBP remains neutral for the moment. Further rally is expected as long as 0.8720 support holds. On the upside, break of 0.8977 will resume whole rebound from 0.8545 towards 0.9267 high. On the downside, however, break of 0.8270 will turn near term outlook bearish again.

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) 0.8570; (P) 0.8592; (R1) 0.8625; More…

At this point, intraday bias in EUR/GBP remains on the upside as the rebound from 0.8312 is still in progress. Current rise would target 0.8786 resistance next. Overall, price actions 0.9304 are viewed as a medium term corrective pattern that is extending. As EUR/GBP has just defended 0.8303 resistance. Break of 0.8786 could bring a retest on 0.9304 high. On the downside, below 0.8508 minor support will turn bias back to the downside for 0.8383 support instead.

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) 0.8671; (P) 0.8684; (R1) 0.8699; More…

With 0.8638 minor support intact, further rise is expected in EUR/GBP. Rebound from 0.8470 short term bottom should target 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) 0.8366; (P) 0.8401; (R1) 0.8433; More…

Intraday bias in EUR/GBP remains mildly on the upside for 0.8476 key structural resistance Firm break there will carry larger bullish implication. On the downside, break of 0.8315 minor support will retain near term bearishness, and bring retest of 0.8201 low.

In the bigger picture, the down trend from 0.9499 is expected to continue as long as 0.8476 resistance holds. Sustained trading below 0.8276 support will argue that the whole up trend from 0.6935 (2015 low) has reversed. Deeper fall should be seen to 61.8% retracement of 0.6935 to 0.9499 at 0.7917 next. However, firm break of 0.8476 will indicate medium term bottoming at least. Focus will be back on 55 week EMA (now at 0.8534) for more evidence of bullish reversal.

Daily Pivots: (S1) 0.8351; (P) 0.8363; (R1) 0.8383; More…

Intraday bias in EUR/GBP stays on the downside. Current fall from 0.8720 should target a retest on 0.8201 low. On the upside, above 0.8414 minor resistance will turn intraday bias neutral again. But outlook will stays cautiously bearish as long as 0.8585 resistance holds.

In the bigger picture, current development suggests rejection by 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Medium term term bearishness is maintained. 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) 0.8850; (P) 0.8876; (R1) 0.8894; More…

Range trading continues in EUR/GBP, inside 0.8686/8928. Intraday bias remains neutral. 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) 0.8929; (P) 0.8956; (R1) 0.9000; More…

EUR/GBP’s rise from 0.8670 is still in progress and intraday bias remains on the upside. Sustained break of 38.2% retracement of 0.9499 to 0.8670 at 0.8987 will indicate completion of whole fall from 0.9499. Further rally should be seen to 61.8% retracement at 0.9182 and above. On the downside, though, break of 0.8901 minor support will turn intraday bias neutral first.

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) 0.8619; (P) 0.8645; (R1) 0.8659; More…

Intraday bias in EUR/GBP remains neutral as consolidation from 0.8575 is extending. In case of another recovery, upside should be limited by 0.8811 resistance. On the downside, break of 0.8575 will resume the fall from 0.9324 and target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 0.8472 key support.

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, to bring rebound. 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.

Daily Pivots: (S1) 0.8282; (P) 0.8298; (R1) 0.8317; More…

Intraday bias in EUR/GBP stays neutral as consolidation from 0.8248 is extending. Further decline is still expected as long as 0.8379 resistance holds. Below 0.8248 will target a retest on 0.82101 low. On the upside, however, above 0.8379 minor resistance will turn bias back to the upside. Further break of 0.8511 will reaffirm that 0.8201 is a medium term bottom, and target 0.8697 medium term fibonacci level next.

In the bigger picture, a medium term bottom should 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. This will remain the favored case as long as 0.8294 support holds.

Daily Pivots: (S1) 0.8812; (P) 0.8848; (R1) 0.8869; More…

With 0.8917 resistance intact, deeper decline is expected in EUR/GBP for 100% projection of 0.9291 to 0.8861 from 0.9229 at 0.8799. Firm break there will indicate downside acceleration for 0.8670 support, as part of the corrective pattern from 0.9499. In any case, outlook will remain bearish as long as 0.8917 resistance holds, 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. Decisive break of 0.9499 will target 0.9799 (2008 high).

Daily Pivots: (S1) 0.8686; (P) 0.8726; (R1) 0.8760; More…

EUR/GBP’s rebound form 0.8303 extends today and intraday bias stays on the upside for 61.8% retracement of 0.9304 to 0.8303 at 0.8922 and above. Such rebound is seen as the second leg of the consolidation pattern from 0.9304. Hence, we’ll be cautious on topping above 0.8922. On the downside, though, break of 0.8646 minor support is needed to indicate completion of the rise. Otherwise, near term outlook will stay cautiously bullish in case of retreat.

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 0.8260) 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) 0.8761; (P) 0.8776; (R1) 0.8795; More…

EUR/GBP continues to stay in consolidation below 0.8879 and intraday bias remains neutral for the moment. On the downside, break of 0.8718 support will argue that rise from 0.8312 has completed. In that case, intraday bias with be turned back to the downside for lower side of the range at 0.8312. Meanwhile, break of 0.8879 and sustained trading above 0.8851 will pave the way to retest 0.9304 high.

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.

Daily Pivots: (S1) 0.8740; (P) 0.8786; (R1) 0.8810; More…

Intraday bias in EUR/GBP remains on the downside as fall from 0.8928 is in progress. Retest of 0.8688 should be seen first. Firm break there would resume whole fall from 0.9305 to retest 0.8303/12 key support zone. On the upside, above 0.8845 minor resistance will turn intraday bias neutral first. But outlook will remain bearish as long as 0.8928 resistance holds, even in case of recovery.

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) 0.8339; (P) 0.8363; (R1) 0.8379; More…

EUR/GBP’s fall from 0.8476 is still in progress and intraday bias stays 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.