Daily Pivots: (S1) 0.8470; (P) 0.8484; (R1) 0.8508; More…

Intraday bias in EUR/GBP remains neutral as consolidation pattern from 0.8276 is extending. Rise from 0.8386 might extend to 0.8595 resistance. Break there will target 38.2% retracement of 0.9324 to 0.8276 at 0.8676. On the downside, break of 0.8386 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 0.8786 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.

Daily Pivots: (S1) 0.8949; (P) 0.8967; (R1) 0.8990; More…

Outlook in EUR/GBP remains unchanged. Corrective fall from 0.9324 might extend lower. But we’d expect strong support from 0.8891 cluster support (50% retracement of 0.8472 to 0.9324 at 0.8856 to contained downside and bring rebound. On the upside, break of 0.9148 resistance will turn bias back to the upside for retesting 0.9324 high. 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.

After deeper than expected pull back, EUR/GBP’s rebound resumed by breaking 0.8790 last week. The development affirmed the case of near term reversal. That is, decline from 0.9305 has completed at 0.8620. Initial bias remains on the upside this week for 0.8967 cluster resistance next (50% retracement of 0.9305 to 0.8620 at 0.8963). Break will confirm this view and target retesting 0.9305. On the downside, below 0.8679 will turn bias to the downside for 0.8620 instead.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, 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.

Daily Pivots: (S1) 0.8325; (P) 0.8352; (R1) 0.8396; More…

Intraday bias in EUR/GBP is turned neutral again with current recovery. On the downside, below 0.8304 will target 0.8282 low. Sustained break of 0.8276 key long term support will carry larger bearish implication. On the upside, above 0.8381 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). 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. Deeper decline would be seen to 61.8% retracement of 0.6935 to 0.9499 at 0.7917.

Daily Pivots: (S1) 0.8391; (P) 0.8401; (R1) 0.8419; More….

EUR/GBP recovered quickly after dipping to 0.8392 and intraday bias remains neutral. Further decline is in favor. But considering bullish convergence condition in 4H MACD, downside could be contained by 61.8% projection of 0.8619 to 0.8396 from 0.8498 at 0.8360 on first attempt. On the upside, break of 55 4H EMA (now at 0.8421) will turn bias back to the upside for stronger rebound.

In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 0.8201 key support (2022 low). For now, outlook will remain bearish as long as 0.8643 resistance holds, even in case of stronger rebound.

Daily Pivots: (S1) 0.8722; (P) 0.8739; (R1) 0.8756; More…

Intraday bias in EUR/GBP remains neutral with mixed near term outlook. On the downside, break of 0.8679 support should confirm completion of the rebound form 0.8620. And intraday bias will be turned back to the downside for this support. Whole decline from 0.9305 will likely be resuming too. On the upside, above 0.8844 will resume the rebound from 0.8620 and target 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963).

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, 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) 0.8572; (P) 0.8622; (R1) 0.8655; More…

Intraday bias in EUR/GBP is mildly on the downside for retesting 0.8470 low. The failure to sustain above 55 day EMA keeps near term outlook bearish. Break of 0.8470 will resume larger fall from 0.9291. Nevertheless, on the upside, above 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, 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) 0.8828; (P) 0.8844; (R1) 0.8862; More…

Intraday bias in EUR/GBP 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.

EUR/GBP’s recovery from 0.8382 extended higher last week but outlook will stay bearish as long as 0.8498 resistance holds. Initial bias remains neutral this week first. Firm break of 0.8382 will resume larger down trend.

In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 0.8201 key support (2022 low). For now, outlook will remain bearish as long as 0.8643 resistance holds, even in case of strong rebound.

In the long term picture, price action from 0.9499 (2020 high) is seen as part of the long term range pattern from 0.9799 (2008 high). Range trading should continue between 0.8201 and 0.9499, until there is clear signal of imminent breakout.

Daily Pivots: (S1) 0.8567; (P) 0.8576; (R1) 0.8586; More…

Intraday bias in EUR/GBP is turned neutral with current retreat. But further rise will remain in favor as long as 0.8529 minor support holds. Rebound from 0.8497 is seen as at least correcting the fall from 0.8764. Above 0.8601 will target 161.8% projection of 0.8497 to 0.8577 from 0.8503 at 0.8632.

In the bigger picture, there is no clear sign that down trend from 0.9267 has completed, despite loss of downside momentum as seen in D MACD. As long as 0.8713 resistance holds, the down trend will remain in favor to resume through 0.8491 low at la later stage.

Daily Pivots: (S1) 0.8414; (P) 0.8437; (R1) 0.8451; More…

Intraday bias in EUR/GBP stays neutral as range trading continues. On the downside, break of 0.8386 minor support will resume the choppy fall from 0.8720 through 0.8338. On the upside, above 0.8510 will resume the rebound to 0.8585 resistance next.

In the bigger picture, medium term bearishness is maintained with prior rejection by 38.2% retracement of 0.9499 to 0.8201 at 0.8697. 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) 0.8568; (P) 0.8578; (R1) 0.8588; More…

Intraday bias in EUR/GBP stays neutral at this point, and further rise is in favor with 0.8529 support intact. Rebound from 0.8497 is seen as at least correcting the fall from 0.8764. Above 0.8601 will target 161.8% projection of 0.8497 to 0.8577 from 0.8503 at 0.8632.

In the bigger picture, there is no clear sign that down trend from 0.9267 has completed, despite loss of downside momentum as seen in D MACD. As long as 0.8713 resistance holds, the down trend will remain in favor to resume through 0.8491 low at la later stage.

Daily Pivots: (S1) 0.8401; (P) 0.8415; (R1) 0.8429; More….

Intraday bias in EUR/GBP remains neutral for consolidations above 0.8399 temporary low. Stronger recovery might be seen but further decline is expected as long as 0.8466 minor resistance holds. Below 0.8399 will resume the decline from 0.8624 and target 0.8382 support. Firm break there will resume larger down trend.

In the bigger picture, as long as 0.8624 resistance holds, down trend from 0.9267 is expected to continue. Firm break of 0.8382 will target 0.8201 (2022 low). However, decisive break of 0.8624 will indicate that such down trend has completed, and turn outlook bullish for 0.8764 resistance next.

Daily Pivots: (S1) 0.8750; (P) 0.8769; (R1) 0.8806; More…

Intraday bias in EUR/GBP remains neutral at this point. On the upside, above 0.8808 will target 0.8844 first. Firm break there will finally confirm our bullish view and resume the rebound from 0.8620 to 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). On the downside, however, break of 0.8679 minor support should indicate completion of the rebound form 0.8620. And intraday bias will be turned back to the downside for this support.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP’s fall from 0.8476 continued last week after brief recovery. Initial bias stays on the downside this week for retesting 0.8282 low. Sustained break of 0.8276 key long term support will carry larger bearish implication. On the upside, above 0.8401 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). 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. Deeper decline would be seen to 61.8% retracement of 0.6935 to 0.9499 at 0.7917.

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). However, sustained break of 0.8276 will indicate long term trend reversal, and target 61.8% retracement of 0.6935 to 0.9499 at 0.7917, and possibly below.

Daily Pivots: (S1) 0.8610; (P) 0.8622; (R1) 0.8645; More…

Intraday bias in EUR/GBP stays on the upside as rise from 0.8491 extends higher today. While further rally could be seen, this rise is seen as the third leg of the corrective pattern from 0.8502. Upside should be limited by 0.8667/8700 resistance zone. On the downside, below 0.8614 minor support will turn intraday bias neutral first. Further break of 0.8568 support will turn bias back to the downside for retesting 0.8491 low.

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). Fall from 0.8977 is seen as the third leg. As long as 0.8700 resistance holds, further decline is still expected. Break of 0.8491 will resume the fall towards 0.8201 (2022 low). Nevertheless, firm break of 0.8700 will now be a sign of bullish reversal.

Daily Pivots: (S1) 0.8624; (P) 0.8647; (R1) 0.8673; More…

Intraday bias in EUR/GBP remains neutral for the moment. Risk stays on the upside as long as 0.8537 support holds. Break of 0.8729 will resume the rebound to 55 day EMA (now at 0.8818). Sustained break there will argue that fall from 0.9291, as the third leg of the pattern from 0.9499, has completed. However, firm break of 0.8537 will resume the decline towards 0.8276 key support.

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 outlook bearish.

Daily Pivots: (S1) 0.8576; (P) 0.8590; (R1) 0.8613; More…

Intraday bias in EUR/GBP remains mildly on the upside this week for 0.8670 resistance first. Decisive break there will confirm that corrective fall from 0.8718 has completed. Further rise would be seen to resume the rebound from 0.8470. On the downside, however, below 0.8529 will resume the choppy fall to retest 0.8470 low.

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.

Daily Pivots: (S1) 0.8571; (P) 0.8595; (R1) 0.8615; More…

Intraday bias in EUR/GBP stays neutral and outlook is unchanged. Further decline is expected with 0.8674 resistance intact. Break of 0.8545 will resume the fall from 0.9267, and 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.

EUR/GBP’s decline from 0.8657 extended lower last week but failed to break through 0.8517 low. Initial bias remains neutral this week first, and outlook stays bearish too. On the downside, firm break of 0.8517 will resume the whole decline from 0.8977. Next target will be 61.8% projection of 0.8874 to 0.8517 from 0.8650 at 0.8436. On the upside, above 0.8657 resistance will turn bias to the upside for stronger rebound instead.

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.

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).