Daily Pivots: (S1) 0.8447; (P) 0.8457; (R1) 0.8468; More…

Focus is back on 0.8487 in EUR/GBP/ Break will suggests that corrective rise from 0.8276 is extending with another rising leg. Intraday bias will be turned back to the upside for 0.8595 resistance and above. But upside should be limited by 38.2% retracement of 0.9324 to 0.8276 at 0.8676. On the downside, below 0.8386 will turn bias back to the downside for retesting 0.8276 low.

In the bigger picture, decline from 0.9324 medium term top is till 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) 0.8793; (P) 0.8820; (R1) 0.8849; More…

Intraday bias in EUR/GBP remains mildly on the downside for 0.8745 support. Break will resume whole fall from 0.9305 and target 0.8303 key support level. On the upside, above 0.8900 minor resistance will extend the corrective pattern from 0.8745 with another rise. But upside should be limited by 61.8% retracement of 0.9305 to 0.8745 at 0.9091 to bring fall resumption eventually.

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 another 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) 0.8667; (P) 0.8686; (R1) 0.8717; More…

EUR/GBP recovers after dipping to 0.8654 but it’s staying below 0.8750. Intraday bias remains neutral first and some more consolidations could be seen. But near term outlook will remain mildly bullish as long as 0.8602 support holds and further rally is expected. Above 0.8750 will target 0.8786 resistance first. Break of 0.8786 would pave the wave for retesting 0.9304 high. Break of 0.8602, however, will argue that the rebound from 0.9312 has completed and turn bias back to the downside for 0.8529 first.

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 taking 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) 0.8608; (P) 0.8671; (R1) 0.8720; More…

EUR/GBP’s break of 0.8604 minor support indicates resumption of fall from 0.8786. Intraday bias is back on the downside for 0.8402 support next. Price actions from 0.8303 are forming a corrective pattern, as the second leg of the correction from 0.9304. Break of 0.8402 will extend the correction from 0.9304 through 0.8303 low. In that case, we’d expect strong support from 0.8116 cluster support to contain downside and bring rebound.

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) 0.8533; (P) 0.8548; (R1) 0.8556; More…

No change in EUR/GBP’s outlook as range trading continues. Intraday bias remains neutral. On the downside decisive break of 0.8491/7 support zone will confirm larger down trend resumption and target 0.8464 projection level first. However, firm break of 0.8577 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.

Daily Pivots: (S1) 0.8593; (P) 0.8607; (R1) 0.8623; More…

Intraday bias in EUR/GBP stays mildly on the upside at this point, and further rally could be seen to 0.8643 resistance. Firm break there will resume the choppy rebound from 0.8497 low. On the downside, below 0.8585 minor support will argue that rebound from 0.8529 has completed, and larger fall might finally be ready to resume. Intraday bias will be back on the downside for 0.8529 support first.

In the bigger picture, outlook remains bearish as EUR/GBP is capped below medium term falling trendline. That is, down trend from 0.9267 (2022 high) is still in progress. Firm break of 0.8491/7 will target 100% projection of 0.8764 to 0.8497 from 0.8643 at 0.8376.

EUR/GBP stayed in range above 0.8529 last week, as well ass near term falling channel. Outlook is unchanged and initial bias is neutral this week first. On the downside, break of 0.8529 will resume the choppy decline towards retesting 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.

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) 0.9128; (P) 0.9175; (R1) 0.9201; More

With 0.9236 minor resistance intact, decline from 0.9305 short term top is expected to extend to 55 day EMA (now at 0.8998). Sustained trading below there will likely start the third leg of the consolidation from 0.9304 and target 0.8303 key support again. On the upside, above 0.9236 minor resistance will turn bias back to the upside for 0.9305 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) 0.8529; (P) 0.8576; (R1) 0.8608; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the upside, sustained break of 0.8668 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. On the downside, though, break of 0.8499 will bring retest of 0.8448 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 0.8668 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) 0.8533; (P) 0.8541; (R1) 0.8555; More…

Intraday bias in EUR/GBP remains neutral at this point. On the downside, firm break of 0.8529 support will argue that the corrective recovery from 0.8497 has completed at 0.8601. Intraday bias will be back on the downside for retesting 0.8497 low next. On the upside, break of 0.8601 will resume the rebound instead.

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 0.8601 resistance holds, the down trend will remain in favor to resume through 0.8491 low at la later stage.

Daily Pivots: (S1) 0.8475; (P) 0.8487; (R1) 0.8502; More…

Intraday bias in EUR/GBP remains on the upside at this point. Sustained trading above 55 D EMA (now at 0.8501) will extend the rise from 0.8396 short term bottom to 0.8529 support turned resistance. On the downside, break of 0.8493 support will bring retest of 0.8396 low instead.

In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Break of 0.8396 will target 0.8201 (2022 low). For now, outlook will remain bearish as long as 0.8643 resistance holds, even in case of stronger rebound.

Daily Pivots: (S1) 0.8409; (P) 0.8436; (R1) 0.8461; More…

Intraday bias in EUR/GBP remains neutral for consolidation above 0.8932 temporary low. Stronger recovery could be seen. Still, further decline is expected as long as 0.8786 resistance holds. Sustained break of 0.8411 fibonacci level will target 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8149 next.

In the bigger picture, correction from 0.9324 medium term top is still in progress. Based on current downside momentum, sustained break of 38.2% retracement of 0.6935 to 0.9324 at 0.8411 would pave the way to 61.8% retracement at 0.7848. 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) 0.8584; (P) 0.8607; (R1) 0.8631; More…

Intraday bias in EUR/GBP remains neutral for the moment as range trading continues. 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, 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) 0.8783; (P) 0.8818; (R1) 0.8836; More…

Intraday bias in EUR/GBP is turned neutral again as it retreated well ahead of 0.8896 resistance. 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.

No change in EUR/GBP’s outlook even though upside momentum is weak. With 0.8828 minor support intact, further rise is mildly in favor for 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) 0.8456; (P) 0.8473; (R1) 0.8486; More…

EUR/GBP’s decline accelerates to as low as 0.8389 so far today. The break of 0.8402 should confirm completion of the consolidation pattern from 0.8303 at 0.8786. And, the correction from 0.9304 should have started the third leg. Intraday bias remains on the downside for 0.8303 support and below. At this point, we’d expect strong support from 0.8116/20 cluster support to complete the correction from 0.9304. But for now, break of 0.8511 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. Such decline is likely ready to resume and should make a new low below 0.8303. At this point, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside. Rise from 0.6935 (2015 low) will resume at a later stage to 0.9799 (2008 high). However, sustained break of 0.8116 could bring deeper decline to next key support level at 0.7564 before the correction completes.

Daily Pivots: (S1) 0.8649; (P) 0.8672; (R1) 0.8695; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the upside, firm break of 0.8720 resistance will indicate 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, however, break of 0.8565 support will indicate rejection by 0.8720 and turn bias back to the downside.

In the bigger picture, focus is back on 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will argue that rise from 0.8201 is a medium term up trend, rather than a correction. Next target is 61.8% retracement at 0.9003. Rejection by 0.8697 again will maintain medium term bearishness, for extending the down trend from 0.9499 (2020 high) at a later stage.

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.

EUR/GBP failed to break through 0.8612 resistance last week and stayed in sideway trading. Initial bias remains neutral this week first. On the upside, break of 0.8612 will resume the whole rise from 0.8448 for 0.8668 key structural resistance. Sustained break there will be a strong sign of larger bullish reversal. On the downside, however, break of 0.8499 support will bring another fall towards 0.8448 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 0.8668 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.

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) 0.8596; (P) 0.8625; (R1) 0.8679; More…

EUR/GBP’s rally from 0.8338 is in progress and intraday bias stays on the upside for 0.8720 resistance. Decisive break there will carry larger bullish implications. Next target is 100% projection of 0.8201 to 0.8720 from 0.8338 at 0.8857. On the downside, below 0.8570 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, focus is back on 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will argue that rise from 0.8201 is a medium term up trend, rather than a correction. Next target is 61.8% retracement at 0.9003. Rejection by 0.8697 again will maintain medium term bearishness, for extending the down trend from 0.9499 (2020 high) at a later stage.