EUR/GBP rebounded strongly after hitting 0.8201 last week. But a temporary top was formed at 0.8434 and initial bias is neutral this week first. On the upside, above 0.8434 will target 0.8476 structural resistance first. Firm break there will carry larger bullish implication and target 0.8598 resistance next. 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.

In the long term picture, current development argues that fall from 0.9499 is probably the third leg of the pattern from 0.9799 (2008 high). Sustained break of 61.8% retracement of 0.6935 to 0.9499 at 0.7917 will pave the way back to 0.6935 (2015 low) and probably below.

Daily Pivots: (S1) 0.8692; (P) 0.8724; (R1) 0.8753; More…

Intraday bias in EUR/GBP remains neutral as range trading continues inside 0.8681/8863. Further decline is mildly in favor as long as 0.8863 minor resistance holds. Break of 0.8681 will target 0.8276/82 key support zone. nevertheless, firm 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) 0.8823; (P) 0.8855; (R1) 0.8872; More…

Intraday bias in EUR/GBP remains neutral as range trading continues. 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) 0.8778; (P) 0.8807; (R1) 0.8824; More…

EUR/GBP’s fall from 0.8977 resumed today by breaking through 0.8782. Intraday bias is back on the downside for 0.8270 support. Firm break there should confirm completion of whole rebound from 0.8545, and turn near term outlook bearish for this support. For now, outlook will stay cautiously bearish as long as 0.8834 resistance holds, in case of recovery.

In the bigger picture, current development suggests that fall from 0.9267 (2022 high) is still in progress. Such decline is seen as a leg inside long term range pattern from 0.9499 (2020 high). Break of 0.8545 will target 100% projection of 0.9267 to 0.8545 from 0.8977 at 0.8255. On the other hand, strong rebound from current level will extend the rise from 0.8545 through 0.8977 at a later stage.

Daily Pivots: (S1) 0.8512; (P) 0.8545; (R1) 0.8565; More…

Intraday bias in EUR/GBP stays mildly on the downside at this point. Deeper fall would be seen to retest 0.8491 low. Firm break there will resume larger down trend. On the upside, above 0.8609 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) 0.8397; (P) 0.8412; (R1) 0.8440; More…

Intraday bias in EUR/GBP is turned neutral as a temporary low is formed at 0.8381. Some consolidations could be seen, but outlook will stay bearish as long as 0.8593 resistance holds. On the downside, break of 0.8381 will resume larger down trend from 0.9499 to 0.8276 long term support next.

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 0.8656 resistance holds, towards long term support at 0.8276. However, firm break of 0.8656 resistance would argue that a medium term bottom was already formed. Stronger rise would be seen to 0.8861 support turned resistance to confirm completion of the corrective pattern.

Daily Pivots: (S1) 0.8579; (P) 0.8600; (R1) 0.8611; More…

EUR/GBP’s fall from 0.8713 is still in progress and intraday bias stays on the downside for retesting 0.8548 support. Firm break there will target 0.8491 low next. On the upside, above 0.8638 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 0.8713 resistance holds, in case of recovery.

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 0.8764 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) 0.8803; (P) 0.8823; (R1) 0.8840; More…

EUR/GBP is staying in consolidation below 0.8850 temporary top. Intraday bias remains neutral. Deeper retreat could be seen through 4 hour 55 EMA (now at 0.8784). But downside should be contained above 0.8681 resistance turned support to bring rebound. On the upside, break of 0.8850 and sustained trading above 0.8840 resistance will pave the way to 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) 0.8812; (P) 0.9031; (R1) 0.9205; More…

Intraday bias in EUR/GBP remains neutral at this point. Further rally is expected as long as 0.8720 resistance turned support holds. Above 0.9267 will target 0.9499 long term resistance. However, break of 0.8270 support will mix up the near term outlook.

In the bigger picture, rise from 0.8201 is in progress targeting 0.9499 (2020 high) next. Based on current momentum, such rally should be resuming the up trend from 0.6935 (2015 low). Firm break of 0.9499 will target 61.8% projection of 0.6935 to 0.9499 from 0.8201 at 0.9786, which is close to 0.9799 (2008 high). This will now remain the favored case as long as 0.8720 resistance turned support holds.

Daily Pivots: (S1) 0.8883; (P) 0.8905; (R1) 0.8924; More…

Intraday bias in EUR/GBP remains neutral at this point. Price actions from 0.8745 are viewed as a corrective pattern. As long as 61.8% retracement of 0.9305 to 0.8745 at 0.9091 holds, deeper fall is in favor. Below 0.8857 minor support will turn bias to the downside. Further break of 0.8745 will resume whole decline form 0.9305 and target 0.8303 key support level. Nonetheless, sustained break of 0.9091 will bring retest of 0.9305 instead.

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 another 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) 0.8407; (P) 0.8422; (R1) 0.8430; More….

Intraday bias in EUR/GBP remains on the downside at this point. Corrective recovery form 0.8396 should have completed at 0.8498 after rejection by 55 D EMA. Deeper fall would be seen to retest 0.8396 support first. Firm break there will resume larger down trend. On the upside, above 0.8438 minor resistance will delay the bearish case and turn intraday bias neutral first.

In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 100% projection of 0.8764 to 0.8497 from 0.8643 at 0.8376. Sustained break there will target 161.8% projection at 0.8211 next. For now, outlook will remain bearish as long as 0.8643 resistance holds, even in case of stronger rebound.

Daily Pivots: (S1) 0.8878; (P) 0.8906; (R1) 0.8936; More…

EUR/GBP is still limited below 0.8939 resistance and intraday bias remains neutral. 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. On the downside, below 0.8810 will turn bias to the downside for 0.8655 low instead.

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.

EUR/GBP’s correction from 0.9324 short term top extended lower last week. But over all outlook is unchanged. While further decline cannot be ruled out this week, downside should be contained by 0.8891/9051 support zone to bring rebound. support zone to bring rebound. On the upside, break of 0.9157 will turn bias back to the upside for 0.9324 resistance first. However, sustained break of 0.8891 will target 61.8% retracement of 0.8472 to 0.9324 at 0.8797 and below.

In the bigger picture, up trend from 0.6935 (2015 low) should be resuming. Sustained break of 0.9305 will confirm and target 0.9799 (2008 high) and then 61.8% projection of 0.6935 to 0.9305 from 0.8472 at 0.9937. In any case, medium term outlook will remain bullish as long as 0.8891 support holds, in case of deep pull back. However, sustained break of 0.8891 will dampen this bullish view and focus would be back on 0.8472 key support.

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 38.2% retracement of 0.6935 to 0.9306 at 0.8400 holds, further rise should be seen through 0.9305 to 0.9799 and above down the road.

Daily Pivots: (S1) 0.8570; (P) 0.8603; (R1) 0.8638; More…

EUR/GBP is losing some downside momentum but further decline is still in favor with 0.8674 resistance intact. Current fall from 0.9267 should target 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 indicate short term bottoming, and bring stronger rebound back to 0.8827 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 0.8827 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) 0.8584; (P) 0.8607; (R1) 0.8631; More…

Intraday bias in EUR/GBP remains neutral for the moment as range trading continues. 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, 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.

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) 0.8277; (P) 0.8288; (R1) 0.8302; More…

Intraday bias in EUR/GBP remains on the downside. Sustained break of 0.8276 long term support will carry larger bearish implications. Next near term target is 100% projection of 0.8476 to 0.8304 from 0.8405 at 0.8233 and then 161.8% projection at 0.8127. On the upside, break of 0.8405 is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, focus is now on 0.8276 long term support (2019 low). Sustained break there will argue that the long term trend has reversed. Deeper decline would be seen to 61.8% retracement of 0.6935 to 0.9499 at 0.7917. Nevertheless, break of 0.8476 resistance will indicate medium term bottoming, after drawing support from 0.8276, and bring stronger rally.

Daily Pivots: (S1) 0.8344; (P) 0.8379; (R1) 0.8398; More…

A temporary low is in place at EUR/GBP at 0.8312, ahead of 0.8303 low. Intraday bias is turned neutral for consolidation. But upside of recovery should be limited below 0.8511 resistance and bring another decline. Below 0.8303 will extend the whole corrective fall from 0.9304 towards 0.8116/20 key cluster support. We’d expect strong support there to completion the correction and bring rebound.

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) 0.8810; (P) 0.8835; (R1) 0.8858; More…

EUR/GBP is still staying in range below 0.8864 resistance and intraday bias remains neutral for the moment. On the upside, firm break of 0.8864 will extend the rebound from 0.8717 to 0.8924 resistance. Further break there should confirm completion of the choppy decline from 0.8977, and should resume larger rise from 0.8545 through 0.8977 high. However, decisive break of 0.8717 support will resume the decline from 0.8977 instead.

In the bigger picture, outlook remains 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) 0.8908; (P) 0.8937; (R1) 0.8958; More…

With 0.8974 minor resistance intact, further fall is expected in EUR/GBP to 0.8864 support. Break will confirm completion of whole rebound from 0.8670 at 0.9175. On the upside, though, break of 0.8974 resistance will turn intraday bias neutral first.

In the bigger picture, at this point, we’s 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.