EUR/GBP rose to as high as 0.8950 last week and the break of 0.8928 resistance suggests near term trend reversal. That is, fall from 0.9305 has completed at 0.8686 after hitting 61.8% retracement of 0.8312 to 0.9305. Initial bias stays on the upside this week for 61.8% retracement of 0.9305 to 0.8686 at 0.9069. Firm break there will target retest of 0.9305 high. On the downside, below 0.8877 minor support will turn intraday bias neutral again.

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.

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.

EUR/GBP dipped to 0.8686 last week but drew support from 0.8688 and recovered. Initial bias is neutral this week first. near term outlook will remain bearish as long as 0.8928 resistance holds. 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.

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.

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.

EUR/GBP’s break of 0.9054 resistance last week suggests resumption of whole rebound from 0.8670. Initial bias stays on the upside this week for 61.8% retracement of 0.9499 to 0.8670 at 0.9182. Sustained trading above there would pave the way back to retest 0.9499 high. On the downside, through, break of 0.8938 minor support will turn bias back to the downside for 0.8864 support.

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.

In the long term picture, rise from 0.6935 (2015 low) is still in progress. It could be resuming long term up trend from 0.5680 (2000 low). Decisive break of 0.9799 will target 100% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

Daily Pivots: (S1) 0.8888; (P) 0.8906; (R1) 0.8930; More…

EUR/GBP’s rebound from 0.8786 short term bottom is still in progress. Intraday bias stays mildly on the upside for 55 day EMA (now at 0.8956). Sustained break will pave the way back to retest 0.9324 high. On the downside, however, firm break of 61.8% retracement of 0.8472 to 0.9324 at 0.8797 will resume the decline form 0.9324 and target 0.8472 low.

In the bigger picture, the failure to sustain above 0.9305 (2017 high) suggests that consolidation from there is extending. Breach of 0.8472 cannot be ruled out but downside should be contained by 38.2% retracement of 0.6935 (2015 low) to 0.9305 at 0.8400. On the upside, firm break of 0.9327 will confirm up trend resumption.

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) 0.8493; (P) 0.8529; (R1) 0.8595; More…

Intraday bias in EUR/GBP remains on the upside at this point. Rebound from 0.8401 would target a test on 0.8656 resistance. Firm break there will carry larger bullish implications. However, on the downside, break of 0.8459 minor support will bring retest of 0.8401 low instead.

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) 0.8788; (P) 0.8817; (R1) 0.8843; More…

Intraday bias in EUR/GBP stays neutral at this point. With 0.8866 resistance intact, near term outlook remains mildly bearish and deeper fall is expected. Break of 0.8688 will extend the fall from 0.9305 and target 61.8% projection of 0.9305 to 0.8745 from 0.8981 at 0.8468 first and then 100% projection at 0.8151 next. However, break of 0.8866 resistance will indicate near term reversal and turn bias back to the upside for 0.8981 resistance 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 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) 0.8913; (P) 0.8935; (R1) 0.8967; More…

EUR/GBP’s rally extends to as high as 0.8954 so far and is finally showing some solid upside momentum. Intraday bias remains on the upside for 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). Decisive break should confirm completion of whole decline from 0.9305. EUR/GBP should then target 61.8% retracement at 0.9043 next. On the downside, 0.8890 resistance turned support is needed to indicate short term topping. Otherwise, outlook will remain bullish even in case of retreat.

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, wed 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 gyrated higher last week but stayed below 0.8866 resistance. Initial bias remains neutral this week first. Another fall will be expected as long as 0.8866 holds. Below 0.8760 minor support will turn bias to the downside for 0.8688 first. Break will resume whole decline from 0.9305. However, firm break of 0.8866 resistance will indicate near term reversal and turn bias back to the upside for 0.8981 resistance and above.

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.

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 correction 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) 0.9062; (P) 0.9091; (R1) 0.9108; More

EUR/GBP’s fall from 0.9305 short term top is still in progress. Intraday bias remains on the downside for 55 day EMA (now at 0.9022). Sustained trading below there will likely start the third leg of the consolidation from 0.9304 and target 38.2% retracement of 0.8312 to 0.9305 at 0.8926 first. On the upside, above 0.9202 minor resistance will turn bias back to the upside for 0.9305 resistance instead.

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. Firm break of 0.9799 high will target 61.8% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

Daily Pivots: (S1) 0.8495; (P) 0.8512; (R1) 0.8534; More…

Intraday bias in EUR/GBP stays neutral as range trading continues. Further rally is in favor with 0.8365 support intact. On the upside, break of 0.8617 will resume rise from 0.8201 medium term bottom to 0.8697 medium term fibonacci level. However, break of 0.8365 will dampen this bullish view, and turn bias back to the downside instead.

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.

Daily Pivots: (S1) 0.8877; (P) 0.8912; (R1) 0.8934; More…

Intraday bias in EUR/GBP remains on the downside at this point. Fall from 0.9175 should continue 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.

Daily Pivots: (S1) 0.8667; (P) 0.8694; (R1) 0.8745; More…

EUR/GBP surges to as high as 0.8751 so far. The firm break of 0.8720 resistance should confirm resumption of whole rise from 0.8201. Intraday bias will be back on the upside for 100% projection of 0.8201 to 0.8720 from 0.8338 at 0.8857. On the downside, break of 0.8624 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

In the bigger picture, sustained trading above 38.2% retracement of 0.9499 to 0.8201 at 0.8697 will argue that rise from 0.8201 is a medium term up trend, rather than a correction. Further rally would be seen back to 61.8% retracement at 0.9003. This will now be the favored case as long as 0.8338 support holds.

Daily Pivots: (S1) 0.8684; (P) 0.8698; (R1) 0.8714; More….

Intraday bias in EUR/GBP remains neutral for the moment as consolidation from 0.8752 is extending. In case of deeper retreat, downside should be contained by 55 D EMA (now at 0.8654). Firm break of 0.8752 will resume the whole rise from 0.8491, and target 100% projection of 0.8491 to 0.8704 from 0.8614 at 0.8827 next. However, sustained break of 55 D EMA will argue that whole rebound from 0.8491 has completed, and bring deeper fall to 0.8614 support.

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 now remain the favored case as long as 0.8614 support holds.

Daily Pivots: (S1) 0.8756; (P) 0.8777; (R1) 0.8791; More…

No change in EUR/GBP’s outlook as further decline is still expected with 0.8838 minor resistance. It’s now in the third leg of the corrective pattern from 0.9499. Break of 0.8670 support would target 161.8% projection of 0.9291 to 0.8861 from 0.9229 at 0.8533. On the upside, break of 0.8838 minor resistance will turn intraday bias to the upside for rebound first.

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) 0.8869; (P) 0.8888; (R1) 0.8909; More…

EUR/GBP recovers just ahead of 0.8861 key support and intraday bias stays neutral first. On the downside, decisive break of 0.8861 will indicate that whole choppy rise from 0.8670 has completed. The pattern from 0.9499 should have then started a third leg to 0.8670 support and below. Nevertheless, rebound from the current level will retain near term bullishness, for another rise through 0.9291 at a later stage.

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) 0.8742; (P) 0.8786; (R1) 0.8812; More…

EUR/GBP’s fall resumed by breaking 0.8763 and reaches as low as 0.8749 so far. Intraday bias is back on the downside. Current fall form 0.9101 should target 0.8620/55 support zone. We’d expect strong support from there to bring near term reversal. On the upside, break of 0.8862 resistance is needed to indicate 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) 0.8988; (P) 0.9024; (R1) 0.9078; More…

EUR/GBP rebounded strongly again but it;’s still bounded in consolidation from 0.9086. Intraday bias stays neutral and outlook remains bullish with 0.8931 support intact. 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.

EUR/GBP edged lower to 0.8448 last week but quickly recovered. Initial bias remains neutral this week first. Outlook stays mildly bearish as long as 0.8556 resistance holds. On the downside, break of 0.8448 will resume the whole decline from 0.9799, to retest 0.8276 key long term support level. However, break of 0.8556 will bring stronger rebound back to 0.8668 resistance.

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 0.8718 resistance holds, towards long term support at 0.8276. However, firm break of 0.8668 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.

In the long term picture, outlook will stay bullish as long as 0.8276 support holds. Break of 0.9499 is in favor at a later stage, to resume the up trend from 0.6935 (2015 low).

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.