Daily Pivots: (S1) 0.8963; (P) 0.9009; (R1) 0.9038; More…

Further rise is expected in EUR/GBP with 0.8880 support intact. Current rebound from 0.8670 should target 61.8% retracement of 0.9499 to 0.8670 at 0.9182 first. Sustained break there will pave the way to retest 0.9499 high. On the downside, though, break of 0.8880 support will turn bias back to the downside for 0.8670 low instead.

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) 0.8778; (P) 0.8807; (R1) 0.8829; More…

EUR/GBP weakens today but after all it’s still bounded in range of 0.8686/8928. Intraday bias remains neutral. Also, outlook stays mildly bearish with 0.8928 resistance intact. 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) 0.8704; (P) 0.8755; (R1) 0.8788; More…

EUR/GBP’s retreat from 0.8865 extended lower but it’s holding above 0.8639 support so far. Intraday bias remains neutral first. We’d still expect strong support from 0.8639 to contain downside and bring rise resumption. Decisive break of 0.8851 resistance will pave the way to retest 0.9304 high. However, break of 0.8639 support will now indicate near term topping and bring deeper pull back 0.8529 resistance turned support and below.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. The leg from 0.9304 should have completed after testing 0.8332 structural support. But it’s too early to say that larger rise from 0.6935 is resuming. Rejection from 0.9304 will extend the consolidation with another falling leg. Meanwhile, firm break of 0.9304 will target 0.9799 (2008 high). In case of another decline, 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.

Daily Pivots: (S1) 0.8577; (P) 0.8597; (R1) 0.8629; More…

Intraday bias in EUR/GBP stays neutral for the moment. On the downside, below 0.8529 will resume the choppy fall to retest 0.8470 low. On the upside, decisive break of 0.8670 will confirm that corrective fall from 0.8718 has completed. Further rise would be seen to resume the rebound from 0.8470.

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) 0.8433; (P) 0.8462; (R1) 0.8490; More…

EUR/GBP is staying in consolidation pattern from 0.8276. 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) 0.8875; (P) 0.8908; (R1) 0.8935; More…

EUR/GBP’s recovery from 0.8670 might have completed at 0.9000, after hitting 38.2% retracement of 0.9499 to 0.8670 at 0.8987. Intraday bias is mildly on the downside for 55 day EMA (now at 0.8805). 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.

Daily Pivots: (S1) 0.8527; (P) 0.8554; (R1) 0.8580; More…

For now, further decline is expected in EUR/GBP with 0.8611 resistance intact. Fall from 0.8977 should target 161.8% projection of 0.8977 to 0.8717 from 0.8874 at 0.8453. However, break of 0.8611 resistance will indicate short term bottoming, and turn bias back to the upside for stronger rebound.

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 would 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.

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) 0.8516; (P) 0.8559; (R1) 0.8586; More…

EUR/GBP is still bounded in range of 0.8484/8720 and intraday bias remains neutral. As long as 0.8484 support holds, further rise is in favor. Break of 0.8720 and sustained trading above 0.8697 medium term fibonacci level will carry larger bullish implication. Next target is 0.9003 fibonacci level. However, break of 0.8484 will indicate rejection by 0.8697 and turn near term outlook bearish.

In the bigger picture, rise from 0.8201 medium term bottom could could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. Sustained break of 38.2% retracement of 0.9499 to 0.8201 at 0.8697 will affirm the latter case, and pave the way to 61.8% retracement at 0.9003. However, rejection by 0.8697 will maintain medium term bearishness.

Daily Pivots: (S1) 0.8557; (P) 0.8599; (R1) 0.8672; More…

EUR/GBP’s rebound from 0.8448 resumed by breaking 0.8612 resistance. Intraday bias is back on the upside for 0.8668 key structural resistance next. Sustained break there will be a strong sign of larger bullish reversal. Next target will be 161.8% projection of 0.8448 to 0.8612 from 0.8499 at 0.8764.

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 0.8668 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.

Daily Pivots: (S1) 0.9062; (P) 0.9085; (R1) 0.9108; More…

No change in EUR/GBP’s outlook. Corrective fall from 0.9324 might extend lower. But 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.

Daily Pivots: (S1) 0.8728; (P) 0.8747; (R1) 0.8767; More…

As noted before, EUR/GBP’s rebound could have completed with three waves up to 0.8844. Deeper fall is in favor to 0.8679 support first. Break will affirm the bearish case that decline form 0.9305 is still in progress and target 0.8620 and below. On the upside, break of 0.8844 is now needed to revive the bullish case of reversal. Otherwise, outlook is now bearish even in case of recovery.

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 dropped sharply last week still stayed above 0.8861 support. Initial bias remains neutral this week 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).

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). Break of 0.9799 (2008 high) is expected down the road, as long as 0.8276 support holds.

Daily Pivots: (S1) 0.8535; (P) 0.8589; (R1) 0.8655; More…

EUR/GBP’s rally extends further today and intraday bias remains on the upside. Sustained trading above 38.2% retracement of 0.9324 to 0.8276 at 0.8676 will pave the way to 50% retracement at 0.8800. On the downside, below 0.8574 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) 0.8609; (P) 0.8622; (R1) 0.8639; More…

No change in EUR/GBP’s outlook as consolidation from 0.8474 is extending. Intraday bias remains neutral first. But as long as 0.7822 resistance holds, near term outlook remains bearish. On the downside, firm break of 0.8474 will resume larger down trend for 0.8416 long term projection next. On the upside, though, sustained break of 0.8722 will suggest near term reversal and bring stronger rise back to 0.8840 resistance and above.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Current fall from 0.9305 (2017 high) is a falling leg inside the pattern. Such decline could extend to 100% projection of 0.9305 to 0.8620 from 0.9101 at 0.8416 and possibly below. But for now, we’d expect strong support around 0.8312 support to contain downside and bring rebound.

Daily Pivots: (S1) 0.8523; (P) 0.8592; (R1) 0.8628; More…

Intraday bias in EUR/GBP remains on the downside for 0.8402 support. Break of 0.8402 will extend the correction from 0.9304 with the third leg. In that case, we’d expect strong support from 0.8116 cluster support to contain downside and bring rebound. On the upside, though, above 0.8604 minor resistance will turn bias neutral first.

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 from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) 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).

Daily Pivots: (S1) 0.8598; (P) 0.8628; (R1) 0.8653; More…

EUR/GBP is staying in consolidation from 0.8575 and intraday bias remains neutral first. Another recovery cannot be ruled out. But 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) 0.8434; (P) 0.8463; (R1) 0.8481; More…

Intraday bias in EUR/GBP remains neutral and outlook is unchanged. Fall from 0.8720 is still expected to resume as long as 0.8585 resistance holds. Firm break of 0.8338 support will target a retest on 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 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.

EUR/GBP stayed in consolidation above 0.8512 last week and outlook is unchanged. Initial bias remains neutral this week first. While another recovery cannot be ruled out, outlook will stay bearish as long as 0.8591 resistance holds. On the downside, break of 0.8512 will resume the decline from 0.8713 to 0.8491, and then 0.8464 projection level. However, firm break of 0.8591 will turn bias back to the upside for stronger rebound.

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 0.8713 resistance holds. Break of 0.8491 will target 61.8% projection of 0.8977 to 0.8491 from 0.8764 at 0.8464.

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). Fall from 0.9267 is the third leg of the pattern from 0.9499. Break of 0.8201 (2022 low) will target 100% projection of 0.9499 to 0.8201 from 0.9267 at 0.7969.

Daily Pivots: (S1) 0.8622; (P) 0.8727; (R1) 0.8782; More…

Break of 0.8720 resistance turned support argues that rise from 0.8201 has completed in three-wave corrective pattern. Intraday bias is back on the downside for 55 day EMA (now at 0.8636) first. Firm break there will target 0.8201/8338 support zone. On the upside, above 0.8848 minor resistance will turn intraday bias neutral first.

In the bigger picture, as long as 0.8720 resistance turned support holds, rise from 0.8201 is seen as resuming larger up trend from 0.6935 (2015 low). Break of 0.9499 (2020 high) should be seen at a later stage. However, firm break of 0.8720 will argue that sideway pattern from 0.9499 is extending with another falling leg instead.