Daily Pivots: (S1) 0.8792; (P) 0.8840; (R1) 0.8889; More…

EUR/GBP is still bounded in range of 08732/9032 and intraday bias remains neutral. With 0.9032 resistance intact, deeper decline is mildly in favor in the cross. Break of 0.8732 will resume the decline from 0.9305 and target 0.8303 key support level. However, on the upside, decisive break of 0.9032 will confirm completion of the decline from 0.9305. In such case, intraday bias will be turned back to the upside for retesting 0.9305 key 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) 0.8574; (P) 0.8594; (R1) 0.8605; More….

Intraday bias in EUR/GBP stays neutral as consolidation from 0.8566 is in progress. Upside of recovery should be limited by 0.8660 support turned resistance and bring another fall. Break of 0.8566 will resume the fall from 0.8977, and target 161.8% projection of 0.8977 to 0.8717 from 0.8874 at 0.8453. Nevertheless, firm break of 0.8660 will confirm short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, current development argues that whole decline from 0.9267 (2022 high) is still in progress. This is part of the long term range pattern from 0.9499 (2020 high). Deeper fall would be seen through 0.8545 support. This will now remain the favored case as long as 0.8717 support turned resistance holds.

Daily Pivots: (S1) 0.8543; (P) 0.8574; (R1) 0.8625; More…

Intraday bias in EUR/GBP stays on the upside as rise from 0.8338 is in progress. Corrective fall from 0.8720 should have completed at 0.8338 already. Further rally should be seen back to retest 0.8720. Decisive break there will carry larger bullish implications. On the downside, below 0.8520 minor support will mix up the outlook and turn intraday bias neutral first.

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) 0.8908; (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.

Daily Pivots: (S1) 0.8598; (P) 0.8616; (R1) 0.8647; More…

Intraday bias in EUR/GBP stays neutral at this point and more sideway trading could be seen. On the downside, below 0.8543 will target a test on 0.8502 low. Decisive break there will resume larger decline from 0.8977. On the upside firm break of 0.8717 resistance will suggest larger reversal and target 0.8874 resistance next.

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). Firm break of 0.8717 support turned resistance will argue that it has completed with three waves down to 0.8502. Further break of 0.8977 will bring retest of 0.9267 high. Nevertheless, rejection by 0.8717, followed by break of 0.8502 will resume the decline towards 0.8201 (2022 low).

Daily Pivots: (S1) 0.8842; (P) 0.8860; (R1) 0.8892; More…

EUR/GBP’s rebound from 0.8688 extends higher and break of 0.8866 resistance indicates near term reversal, on bullish convergence condition in daily MACD. Intraday bias is turned back to the upside for 0.8981 resistance first. Sustained break there will indicate that whole decline from 0.9305 has completed. In such case, EUR/GBP will target a test on 0.9304/5 key resistance. On the downside, below 0.8828 minor support will turn bias back to the downside for 0.8668 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) 0.8441; (P) 0.8477; (R1) 0.8533; More…

Break of 0.8476 minor support suggests that recovery from 0.8276 has completed at 0.8519. Intraday bias in EUR/GBP is turned back to the downside for retesting 0.8276. On the upside, above 0.8519 will resume the corrective rebound to 38.2% retracement of 0.9324 to 0.8276 at 0.8676.

In the bigger picture, fall from 0.9324 medium term top is still in progress. 38.2% retracement of 0.6935 to 0.9324 at 0.8411 was firmly taken out. Further decline should now be seen to 61.8% retracement at 0.7848 next. In any case, further decline would remain in favor as long as 0.8786 support turned resistance holds, even in case of strong rebound.

EUR/GBP continued to be bounded in sideway trading between 0.8732/9032 last week. Outlook stays bearish with 0.9032 resistance intact. That is, fall from 0.9305 is expected to resume later. Break of 0.8732 will target 0.8303 key support level. Nonetheless, decisive break of 0.9032 will confirm completion of the decline from 0.9305. In such case, intraday bias will be turned back to the upside for retesting 0.9305 key 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.

In the long term picture, firstly, price action from 0.9799 (2008 high) is seen as a long term corrective pattern and should have completed at 0.6935 (2015 low). Secondly, rise from 0.6935 is likely resuming up trend from 0.5680 (2000 low). Thirdly, this is supported by the impulsive structure of the rise from 0.6935 to 0.9304. 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) 0.8594; (P) 0.8620; (R1) 0.8641; More…

Focus is now on 0.8638 resistance with current recovery. Firm break there will be the first sign of short term bullish reversal. Intraday bias will be turned back to the upside for 55 day EMA (now at 0.8717). Sustained break there will affirm the case that whole corrective pattern from 0.9499 has completed. Nevertheless, break of 0.8532 support will resume such pattern to 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) 0.8444; (P) 0.8455; (R1) 0.8467; More…

Intraday bias in EUR/GBP remains neutral and consolidation from 0.8396 could extend further. But outlook will stay bearish as long as 0.8482 support turned resistance holds. On the downside, below 0.8429 minor support will bring retest of 0.8396 low first. Further break there will resume larger down trend to 0.8376 projection level next.

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) 0.8861; (P) 0.8876; (R1) 0.8895; More…

EUR/GBP rises to 0.8917 so far today and outlook is basically unchanged. Further rise is mildly in favor to 0.8981 resistance. Sustained break there will indicate that whole decline from 0.9305 has completed. In such case, EUR/GBP will target a test on 0.9304/5 key resistance. On the downside, below 0.8828 minor support will turn bias back to the downside for 0.8668 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) 0.8569; (P) 0.8583; (R1) 0.8606; More…

EUR/GBP recovered quickly after dipping to 0.8559. Intraday bias is turned neutral first. 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, 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) 0.8372; (P) 0.8401; (R1) 0.8421; More…

EUR/GBP’s break of 0.8386 support suggests resumption of fall from 0.8595. Intraday bias is back on the downside for 0.8276 low. Decisive break there will resume larger decline from 0.9324. Next downside target will be 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8400 minor resistance will turn bias neutral first.

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) 0.8370; (P) 0.8393; (R1) 0.8416; More…

Intraday bias in EUR/GBP remains neutral for consolidation above 0.8344 temporary low. While stronger recovery cannot be ruled out, further decline is expected as long as 0.8585 resistance holds. Below 0.8344 will resume the fall from 0.8720 for retesting 0.8201 low.

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) 0.8684; (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) 0.8648; (P) 0.8695; (R1) 0.8783; More…

Intraday bias in EUR/GBP remains neutral for the moment. Further decline is in favor with 0.8779 resistance intact. Break of 0.8570 will resume the fall from 0.9267 and target 0.8201/8388 support zone. However, break of 0.8770 will turn bias back to the upside for 0.8869 resistance and above.

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.

Daily Pivots: (S1) 0.8542; (P) 0.8571; (R1) 0.8585; More…

Breach of 0.8559 minor support suggests that rebound from 0.8491 has completed at 0.8609. Intraday bias in EUR/GBP is back on the downside for retesting 0.8491 low first. Firm break there will resume larger down trend. 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 0.8502 will resume the fall towards 0.8201 (2022 low).

Daily Pivots: (S1) 0.9038; (P) 0.9072; (R1) 0.9102; More…

Outlook in EUR/GBP is unchanged and intraday bias stays neutral first. Price actions from 0.9291 are seen as a corrective pattern. Another fall through 0.9007 cannot be ruled out. But downside should be contained 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).

Daily Pivots: (S1) 0.8812; (P) 0.8855; (R1) 0.8876; More…

EUR/GBP drops sharply on hawkish BoE, but it’s still bounded in range of 0.8686/8928. Intraday bias remains neutral for the moment. And, 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) 0.8661; (P) 0.8695; (R1) 0.8718; More…

Intraday bias in EUR/GBP remains neutral first. Current development suggests that corrective rise from 0.8617 might have completed already. Break of 0.8666 will target 0.8617/20 key support zone. Decisive break there will resume larger down trend. On the upside, above 0.8762 minor resistance will turn bias to the upside for 0.8840 resistance instead.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). On the downside, decisive break of 0.8620 support will resume the falling leg from 0.9305 (2017 high) to 100% projection of 0.9305 to 0.8620 from 0.9101 at 0.8416. In that case, we’d expect strong support around 0.8312 to contain downside and bring rebound.