Daily Pivots: (S1) 0.8723; (P) 0.8764; (R1) 0.8808; More…

EUR/GBP is staying in range above 0.8670 and intraday bias remains neutral. On the upside, break of 0.8863 will confirm short term bottoming at 0.8670. Further rise should be seen to 38.2% retracement of 0.9499 to 0.8670 at 0.8987. On the downside, however, break of 0.8670 will resume the fall from 0.9499 to 0.8276/82 key support zone.

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) 0.8746; (P) 0.8763; (R1) 0.8776; More…

ERU/GBP continues to stay in right range below 0.8796 and intraday bias remains neutral. As noted before, the cross was supported by 0.8686 key support level, we’d slightly favoring the case for further rebound. On the upside, above 0.8796 will target 61.8% retracement of 0.8967 to 0.8666 at 0.8852 and above. Nonetheless, on the downside, firm break of 0.8666 will resume the decline from 0.9305 and pave the way to 0.8303 key support zone next.

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) 0.8739; (P) 0.8776; (R1) 0.8798; More…

Intraday bias in EUR/GBP stays neutral first. On the upside, break of 0.8863 will confirm short term bottoming at 0.8670. Further rise should be seen to 38.2% retracement of 0.9499 to 0.8670 at 0.8987. On the downside, however, break of 0.8670 will resume the fall from 0.9499 to 0.8276/82 key support zone.

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) 0.8898; (P) 0.8935; (R1) 0.8980; More…

EUR/GBP’s rally from 0.8655 is in progress and intraday bias remains on the upside. Fall from 0.9098 should have completed at 0.8655 and further rise should be seen to this resistance first. Sustained break will target 0.9304 key resistance next. On the downside, break of 0.8876 minor support will mix up near term outlook and turn intraday bias neutral first.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Sustained break of 0.8939 resistance will confirm that it’s in a medium term rising leg for 0.9098 and above. And for now, in case of another fall, downside will likely be contained by 0.8620/55 support zone to bring rebound.

Daily Pivots: (S1) 0.8386; (P) 0.8418; (R1) 0.8440; More…

EUR/GBP’s rally resumes and hits as high as 0.8544 so far. The break of 0.8511 resistance reaffirm that 0.8201 is a medium term bottom. Intraday bias is back on the upside for 0.8697 medium term fibonacci level next. For now, outlook will stay cautiously bullish as long as 0.8365 support holds, in case of retreat.

In the bigger picture, a medium term bottom could 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.

Daily Pivots: (S1) 0.8798; (P) 0.8818; (R1) 0.8847; More…

While upside momentum in EUR/GBP is diminishing as seen in 4 hour MACD, there is no sign of topping intraday. Further rise is expected and break of 0.8840 resistance will target 0.9101 key resistance next. On the downside, break of 0.8681 resistance turned support is needed to indicate completion of rise from 0.8489. Otherwise, near term outlook will remain cautiously bullish in case of retreat.

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 0.8511). 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.

Daily Pivots: (S1) 0.8413; (P) 0.8427; (R1) 0.8445; More….

Intraday bias in EUR/GBP remains on the downside as fall from 0.8624 is in progress for retesting 0.8382 low. Strong support could be seen from there to bring rebound on first attempt. Above 0.8474 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 55 D EMA (now at 0.8492) holds. Firm break of 0.8382 will confirm larger down trend resumption.

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 towards 0.8201 (2022 low). However, firm break of 0.8643 will indicate that such down trend has completed, and turn outlook bullish for 0.8764 resistance next.

EUR/GBP dropped sharply to 0.8720 last week but turned sideway after hitting 55 day EMA. Initial bias is turned neutral this week first. On the downside, below 0.8720 will resume the fall from 0.8896 to 61.8% retracement of 0.8545 to 0.8896 at 0.8679. Sustained break there will pave the way back to retest 0.8545 low. On the upside, though, above 0.8802 will bring retest of 0.8896 resistance.

In the bigger picture, current development argues that rebound from 0.8545 is merely a correction to fall from 0.9267. Sustained trading below 55 day EMA (now at 0.8748) will affirm this bearish case and target 0.8545 and below. Nevertheless, strong rebound from current level will retain near term bullishness for another rise through 0.8896 later.

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).

Daily Pivots: (S1) 0.8521; (P) 0.8538; (R1) 0.8557; More…

Intraday bias in EUR/GBP remains neutral as it’s still bounded in range trading. On the downside decisive break of 0.8491/7 support zone will confirm larger down trend resumption and target 0.8464 projection level first. Nevertheless, 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) 0.8318; (P) 0.8335; (R1) 0.8345; More…

EUR/GBP spiked lower to 0.8282 but recovered strong just ahead of 0.8276 key long term support. Intraday bias remains neutral first. On the upside, firm break of 0.8421 resistance should now will be a sign of bullish reversal. Further rise would be seen back to 0.8598 structural resistance for confirmation. However, sustained break of 0.8276 will carry larger bearish implication and could prompt downside acceleration.

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 0.8598 resistance holds, towards long term support at 0.8276. We’d look for bottoming signal around there to bring reversal. Meanwhile, firm break of 0.8598 will now be an early sign of medium term bottoming and bring stronger rebound. However, sustained break of 0.8276 will argue that the long term trend has reversed.

Daily Pivots: (S1) 0.8569; (P) 0.8606; (R1) 0.8626; More…

Range trading continues in EUR/GBP and intraday bias remains 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, 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) 0.8771; (P) 0.8793; (R1) 0.8809; More…

Intraday bias in EUR/GBP remains neutral for the moment. Near term outlook is mixed for now. On the upside, break of 0.8864 will target 0.8924 resistance first. Firm break there 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.

Daily Pivots: (S1) 0.8341; (P) 0.8371; (R1) 0.8419; More…

Intraday bias in EUR/GBP stays neutral at this point. On the downside, below 0.8294 will resume the fall from 0.8456 to retest 0.8201 low. Firm break there will resume larger down trend. On the upside, however, break of 0.8456 will resume the rebound from 0.8201 to 0.8476 structural resistance.

In the bigger picture, the down trend from 0.9499 is expected to continue as long as 0.8476 resistance holds. Sustained trading below 0.8276 support will argue that the whole up trend from 0.6935 (2015 low) has reversed. Deeper fall should be seen to 61.8% retracement of 0.6935 to 0.9499 at 0.7917 next. However, firm break of 0.8476 will indicate medium term bottoming at least. Focus will be back on 55 week EMA (now at 0.8523) for more evidence of bullish reversal.

Daily Pivots: (S1) 0.8859; (P) 0.8884; (R1) 0.8900; More…

EUR/GBP’s decline from 0.9097 extends lower even though down side momentum is a bit unconvincing. As long as 0.8935 resistance holds, deeper fall is expected to 61.8% retracement of 0.8620 to 0.9097 at 0.8802. But downside could be contained there and bring rebound. On the upside, break of 0.8935 resistance will indicate short term bottoming and bring stronger rebound.

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.

Daily Pivots: (S1) 0.8988; (P) 0.9024; (R1) 0.9078; More…

EUR/GBP rebounded strongly again but it;’s still bounded in consolidation from 0.9086. Intraday bias stays neutral and outlook remains bullish with 0.8931 support intact. On the upside firm break of 0.9098 resistance will extend the whole rise from 0.8655 to 0.9304 key resistance next. However, considering bearish divergence condition in 4 hour MACD, firm break of 0.8931 will indicate near term reversal and target 0.8810 support and below.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). It should be in medium term rising leg for 0.9304. Meanwhile, in case of another fall, down side should be contained by 0.8620/55 support zone to bring rebound.

Daily Pivots: (S1) 0.8900; (P) 0.8927; (R1) 0.8962; More

Intraday bias in EUR/GBP remains neutral as consolidation from 0.8994 continues. Downside of retreat should be contained by 0.8828 minor support to bring another rally. Break of 0.8994 will extend the whole rise from 0.8312 towards 0.9304 high. here is no clear sign of up trend resumption yet. Hence, we’ll be cautious on strong resistance from 0.9304 to limit upside and bring another fall.

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.

EUR/GBP’s corrective recovery from 0.8786 extended higher last week. While further rise is still likely, based on current momentum, upside should be limited by 55 day EMA (now at 0.8953). On the downside, firm break of 61.8% retracement of 0.8472 to 0.9324 at 0.8797 will resume the decline form 0.9324 and target 0.8472 low.

In the bigger picture, the failure to sustain above 0.9305 (2017 high) suggests that consolidation from there is extending. Breach of 0.8472 cannot be ruled out but downside should be contained by 38.2% retracement of 0.6935 (2015 low) to 0.9305 at 0.8400. On the upside, firm break of 0.9327 will confirm up trend resumption.

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). As long as 0.8472 support holds, further rise should be seen through 0.9305 to 0.9799 and above down the road.

Daily Pivots: (S1) 0.8450; (P) 0.8477; (R1) 0.8521; More…

Outlook in EUR/GBP is unchanged and intraday bias remains neutral first. Further rise will remain in favor as long as 0.8365 support holds. On the upside, break of 0.8617 will resume rise from 0.8201 medium term bottom to 0.8697 medium term fibonacci level. However, break of 0.8365 will dampen this bullish view, and turn bias back to the downside instead.

In the bigger picture, a medium term bottom could 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.

Daily Pivots: (S1) 0.8951; (P) 0.8962; (R1) 0.8971; More…

EUR/GBP’s rise resumed by taking out 0.8992. Intraday bias is turned back to the upside for 0.9101 key resistance. 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 0.8920 support will indicate short term topping. In this case, deeper pull back could be seen to 55 day EMA (now at 0.8844) 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) 0.8465; (P) 0.8482; (R1) 0.8512; More…

EUR/GBP retreats sharply after hitting 0.8551 and intraday bias is turned neutral first. At this point, further rise is still in favor as long as 0.8294 support holds. 0.8201 is seen as a medium term bottom. Above 0.8511 will target 0.8697 medium term fibonacci level next. However, break of 0.8294 will dampen this bullish view and bring retest of 0.8201 low.

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.