Daily Pivots: (S1) 0.8689; (P) 0.8737; (R1) 0.8766; More…

A temporary top is formed at 0.8786 in EUR/GBP with 4 hours MACD staying below signal line. Intraday bias is turned neutral for consolidations. Deeper retreat might be seen but downside should be contained by 38.2% retracement of 0.8402 to 0.8786 at 38.2% retracement of 0.8402 to 0.8786 at 0.8639 and bring another rise. Above 0.8786 will target 0.8851 resistance and above. However, price actions from 0.8303 are seen as the second leg of the corrective pattern from 0.9304. Hence, we’d expect strong resistance from 100% projection of 0.8303 to 0.8851 from 0.8402 at 0.8950 to limit upside.

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) 0.8963; (P) 0.8971; (R1) 0.8978; More…

Intraday bias in EUR/GBP remains neutral for consolidation below 0.8992. Further rise is expected as long as 0.8872 resistance holds. But considering bearish divergence condition in 4 hour MACD, we’d look for topping signal as it approaches 0.9101 key resistance. On the downside, break of 0.8872 will indicate short term topping. Deeper pull back could be seen to 55 day EMA (now at 0.8830) first.

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 0.8527). 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, if upside is rejected by 0.9101.

Daily Pivots: (S1) 0.8555; (P) 0.8625; (R1) 0.8660; More…

Deeper fall is still mildly in favor in EUR/GBP. Firm break of 0.8587 support will bring retest of 0.8470 low. On the upside, though, break of 0.8718 will resume the rebound 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) 0.8933; (P) 0.8959; (R1) 0.8984; More…

A temporary top is in place at 0.8994 and intraday bias is turned neutral first. Corrective pull back from 0.9097 should have completed at 0.8847 and further rise is in favor. Above 0.8994 will target 0.9097 resistance first. Firm break there will resume the rise from 0.8620 towards 0.9305 high.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, we’d 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 retreated after rising to 0.8624 last week and a short term top could be formed ahead of 0.8643 resistance. Some consolidations could be seen now, with risk of deeper pullback. But downside should be contained by 38.2% retracement of 0.8382 to 0.8624 at 0.8532 to bring another rally. On the upside, firm break of 0.8624 will target 0.8643 resistance next.

In the bigger picture, while the rebound from 0.8382 is strong, there is no confirmation of trend reversal yet. As long as 0.8643 resistance holds, down trend from 0.9267 could still resume through 0.8382 at a later stage. However, firm break of 0.8643 will indicate that such down trend has completed, and turn outlook bullish for 0.8764 resistance next.

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) 0.8846; (P) 0.8882; (R1) 0.8905; More…

At this point,f further rise is mildly in favor in EUR/GBP 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 0.8851 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) 0.8443; (P) 0.8471; (R1) 0.8500; More…

Intraday bias in EUR/GBP stays neutral at this point. Further decline is expected as long as 0.8552 minor resistance holds. Rebound from 0.8201 should have completed at 0.8720, after rejection by 0.8697 medium term fibonacci level. Below 0.8401 ill target a test on 0.8201/48 support zone next.

In the bigger picture, rejection by 38.2% retracement of 0.9499 to 0.8201 at 0.8697 argues that rebound from 0.8201 is merely a corrective move. That is, down trend from 0.9499 (2020 high) is now over. Sustained break of 0.8201 will resume such decline and target 61.8% retracement of 0.6935 to 0.9499 at 0.7917. This will now remain the favored case as long as 0.8720 resistance holds.

Daily Pivots: (S1) 0.8760; (P) 0.8788; (R1) 0.8802; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the upside firm break of 0.8896 will resume the rise from 0.8545 and target 61.8% projection of 0.8545 to 0.8896 from 0.8720 at 0.8937. On the downside, break of 0.8720 will resume the fall from 0.8896 instead.

In the bigger picture, the notable support from 55 day EMA (now at 0.8752) retains near term bullishness. Break of 0.8896 should target 0.9267 (2022 high) and possibly above, to resume whole up trend from 0.8201 (2022 low). However, break of 0.8270 support and sustained trading below 55 day EMA will set the stage for 0.8545 and below.

Daily Pivots: (S1) 0.8471; (P) 0.8493; (R1) 0.8526; More…

EUR/GBP recovers after hitting 0.8451 and intraday bias is turned neutral first. On the downside, below 0.8451 will bring retest of 0.8276 low. On the upside, break of 0.8591 will extend the rebound form 0.8276 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.

Daily Pivots: (S1) 0.8437; (P) 0.8454; (R1) 0.8479; More…

Intraday bias in EUR/GBP remains neutral at this point. Outlook stays bearish with 0.8585 resistance intact. Fall from 0.8720 is expected to resume sooner or later. Break of 0.8338 will turn bias to back to the downside 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 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) 0.8492; (P) 0.8510; (R1) 0.8524; More…

EUR/GBP’s break of 0.8499 support suggests that corrective rebound form 0.8488 has completed with three waves up to 0.8656 already. With 0.8668 resistance intact, near term outlook stays bearish. Intraday bias is back on the downside for retesting 0.8448 low first. Firm break there will resume larger down trend from 0.9499, towards 0.8276 key support. On the upside, above 0.8543 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 0.8656 resistance holds.

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) 0.8713; (P) 0.8741; (R1) 0.8794; More…

EUR/GBP’s strong rebound and firm break of 0.8739 indicates near term reversal. And whole decline from 0.9305 has likely completed after hitting 61.8% projection of 0.9305 to 0.8745 from 0.8967 at 0.8621. Intraday bias is back on the upside for 0.8796 first. Firm break there will target key cluster resistance at 0.8967 (50% retracement of 0.9305 to 0.8620 at 0.8963) next. On the downside, break of 0.8688 minor support will dampen the bullish case and turn focus back to 0.8620 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) 0.8825; (P) 0.8844; (R1) 0.8859; More

Intraday bias in EUR/GBP remains neutral for the moment as it’s staying in range of 0.8742/8948. On the downside, below 0.8742 will target 38.2% retracement of 0.8312 to 0.8948 at 0.8705 first. Break will target 61.8% retracement at 0.8555 next. However, break of 0.8948 will extend the rebound from 0.8312 towards 0.9304 resistance.

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.

Daily Pivots: (S1) 0.8553; (P) 0.8572; (R1) 0.8587; More…

Intraday bias in EUR/GBP remains neutral at this point, and outlook is unchanged. 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, above 0.8618 minor resistance will turn bias back to the upside for 0.8700, and possibly further to 0.8717 key support turned resistance.

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) 0.8494; (P) 0.8524; (R1) 0.8539; More…

Intraday bias in EUR/GBP remains neutral first and with 0.8387 minor support intact, further rally is in favor. On the upside, firm break of 0.8593 resistance will be the first sign of larger bullish reversal and target 0.8656 resistance next. On the downside, however, break of 0.8487 will turn bias back to the downside to retest 0.8379 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 0.8593 resistance holds, towards long term support at 0.8276. We’d look for bottoming signal around there to bring reversal. Meanwhile, firm break of 0.8593 will now be an early sign of medium term bottoming. Further break of 0.8656 will pave the way to 38.2% retracement of 0.9499 to 0.8379 at 0.8807.

Daily Pivots: (S1) 0.8473; (P) 0.8488; (R1) 0.8516; More…

Intraday bias in EUR/GBP is turned neutral with current recovery. But outlook will stay 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.

In the bigger picture, price actions from 0.9499 are still seen as developing into a corrective pattern. Further decline is expected as long as 0.8668 resistance holds, to retest long term support at 0.8276. We’d look for strong support from there to bring rebound. On the upside, firm break of 0.8668 resistance would now be the first sign of medium term bullish reversal.

Daily Pivots: (S1) 0.8893; (P) 0.8925; (R1) 0.8943; More…

EUR/GBP continues to lose upside momentum, as seen in 4 hour MACD. Still, with 0.8877 minor support intact, further rise is expected. Prior break of 0.8928 resistance indicates near term trend reversal. Decline from 0.9305 has completed at 0.8686 after hitting 61.8% retracement of 0.8312 to 0.9305. Further rise should be seen back to 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 dampen this bullish view and target 0.8771 support 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.

EUR/GBP surged to as high as 0.9499 last week, then formed a short term top there and retreated. Initial bias is neutral this week for some more consolidations first. In case of deeper pull back, downside should be contained by 61.8% retracement of 0.8282 to 0.9499 at 0.8747 to bring rally resumption. On the upside, break of 0.9499 will resume larger up trend.

In the bigger picture, the break of 0.9324 (2016 high) confirms resumption of up trend from 0.6935 (2015 low). Next target is 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. Initial resistance could be seen around there as it’s close to 0.9799 (2008 high). But in any case, medium term outlook will stay bullish as long as 0.8276 support holds, even in case of deep pull back.

In the long term picture, rise form 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) 0.8323; (P) 0.8348; (R1) 0.8369; More…

intraday bias in EUR/GBP remains neutral at this point. on the downside, break of 0.8294 will argue that rebound from 0.8201 has completed at 0.8511, and revive near term bearishness. Intraday bias will be back on the downside for retesting 0.8201 low. On the upside, however, break of 0.8511 will reaffirm that 0.8201 is a medium term bottom, and target 0.8697 medium term fibonacci level next.

In the bigger picture, a medium term bottom should 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. This will remain the favored case as long as 0.8294 support holds.

Daily Pivots: (S1) 0.9022; (P) 0.9054; (R1) 0.9090; More…

No change in EUR/GBP’s outlook as sideway trading continues. Overall, choppy rise from 0.8670 is in favor to continue as long as 0.8861 support holds. On the upside, decisive break of 0.9291 will target 0.9499 high. However, break of 0.8861 will bring deeper fall back to 0.8670 support.

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).