Daily Pivots: (S1) 0.8532; (P) 0.8546; (R1) 0.8555; More…

Range trading continues in EUR/GBP and 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) 0.8724; (P) 0.8759; (R1) 0.8792; More…

With 0.8711 minor support intact, further rise is expected in EUR/GBP. Break of 38.2% retracement of 0.9101 to 0.8617 at 0.8802 will target 61.8% retracement at 0.8916. On the downside, break of 0.8711 will turn bias back to the downside for 0.8617/20 support instead.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). The medium term range is set between 0.8620 and 0.9101. Downside breakout of 0.8620 will pave the way back to 0.8312 support . Break of 0.9101 will bring retest of 0.9304/5 resistance.

Daily Pivots: (S1) 0.8316; (P) 0.8329; (R1) 0.8345; More…

Intraday bias in EUR/GBP stays on the downside at this point. Current down trend would target 0.8276 key long term support. On the upside, however, break of 0.8377 resistance will now indicate short term bottoming, and bias back to the upside for stronger rebound.

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) 0.8736; (P) 0.8766; (R1) 0.8789; More…

EUR/GBP rebounded to 0.8796 but failed to sustain above 38.2% retracement of 0.8967 to 0.8666 at 0.8781 and retreated. Intraday bias is turned neutral first. As EUR/GBP 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 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) 0.8407; (P) 0.8421; (R1) 0.8440; More…

Intraday bias in EUR/GBP is turned neutral with current recovery. But further fall is expected as long as 0.8467 resistance holds. Break of 0.8401 will resume larger down trend from 0.9499 towards 0.8276 key long term support next. On the upside, break of 0.8467 minor resistance will now indicate short term bottoming, and bring stronger rebound back to 55 day EMA (now at 0.8513).

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 0.8656 resistance holds, towards long term support at 0.8276. However, firm break of 0.8656 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) 0.8509; (P) 0.8517; (R1) 0.8527; More….

No change in EUR/GBP’s outlook and intraday bias stays neutral for the moment. Further decline is expected as long as 55 D EMA (now at 0.8549) holds. Decisive break of 0.8491/7 will resume larger down trend to 0.8376 projection level next. However, sustained break of 55 D EMA will turn bias back to the upside for 0.9643 resistance instead.

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 consolidation pattern from 0.8899 last week. Despite a deep pull back, downside was contained above 0.8796 support. Thus, further rise is still expected. On the upside, above 0.8890 will resume the rally from 0.8620 and target 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). However, break of 0.8796 will be the first sign that whole rebound from 0.8620 is completed. Deeper would then be seen to 0.8724 support for confirmation.

In the bigger picture, EUR/GBP is staying in 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.

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). Hence, after the consolidation 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) 0.8570; (P) 0.8668; (R1) 0.8728; More…

Intraday bias in EUR/GBP remains on the downside for the moment. Current fall from 0.9267 should target 61.8% projection of 0.9267 to 0.8647 from 0.8869 at 0.8486. Such decline is seen as part of a long term range pattern. Deeper fall is now in favor as long as 0.8869 holds, in case of recovery.

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.

Daily Pivots: (S1) 0.8913; (P) 0.8943; (R1) 0.8966; More…

Focus in EUR/GBP remains on 0.8891 cluster support (50% retracement of 0.8472 to 0.9324 at 0.8856). We’d continue to expect strong support from there to bring rebound. On the upside, break of 0.9015 support turned resistance will turn bias back to the upside for retesting 0.9324 high. 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) 0.8704; (P) 0.8717; (R1) 0.8741; More….

Intraday bias in EUR/GBP stays neutral at this point. Consolidation from 0.8752 could extend with another falling leg. But in that case, downside should be contained by 0.8614 support to bring rebound. Meanwhile, decisive break of 0.8752 will resume larger rally from 0.8491 towards 0.8874 resistance next.

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 remain the favored case as long as 0.8614 support holds.

Daily Pivots: (S1) 0.8764; (P) 0.8780; (R1) 0.8798; More…

Intraday bias in EUR/GBP remains on the downside as fall from 0.8928 is in progress. Retest of 0.8688 should be seen first. Firm break there would resume whole fall from 0.9305 to retest 0.8303/12 key support zone. On the upside, above 0.8845 minor resistance will turn intraday bias neutral first. But outlook will remain bearish as long as 0.8928 resistance holds, even in case of recovery.

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) 0.8551; (P) 0.8567; (R1) 0.8595; More…

Intraday bias in EUR/GBP is now mildly on the upside with break of 0.8564 minor resistance. Stronger rebound could be seen but near term outlook will stay bearish as long as 0.8667 resistance holds. Break of 0.8419 support will resume larger fall from 0.8977.

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) 0.8410; (P) 0.8431; (R1) 0.8452; More…

Intraday bias in EUR/GBP remains neutral for the moment. While stronger recovery might be seen, outlook will stay bearish as long as 0.8585 resistance holds. On the downside, break of 0.8338 will resume the decline from 0.8720 to retest 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) 0.8369; (P) 0.8397; (R1) 0.8419; More…

EUR/GBP’s fall from 0.8720 resumed by breaking through 0.8401 support. The development also affirms the case of rejection by 0.8697 fibonacci level. Intraday bias stays on the downside for deeper fall to 0.8720 low. On the upside, above 0.8424 minor resistance will turn intraday bias neutral first. But risk will now stay on the downside as long as 0.8585 resistance holds.

In the bigger picture, attention remains on 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will affirm the case that rise from 0.8201 is a medium term up trend itself. Further rally would then be seen to 61.8% retracement at 0.9003. However, rejection by 0.8697 will confirm medium term bearishness for another fall through 0.8201.

Daily Pivots: (S1) 0.8516; (P) 0.8550; (R1) 0.8571; More…

EUR/GBP is staying in consolidation from 0.8521 temporary low and intraday bias remains neutral first. Further decline remains mildly in favor as long as 0.8605 minor resistance holds. Break of 0.8521 will target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 0.8472 key support. Considering diminishing downside momentum as seen in daily MACD, we’d expect strong support from there to bring rebound. On the upside, break of 0.86860576 resistance will indicate short term bottoming and bring stronger rebound back to 0.8786/9019 resistance zone.

In the bigger picture, we’re 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) 0.8678; (P) 0.8690; (R1) 0.8705; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the upside, break of 0.8718 will resume the rebound from 0.8470, for 38.2% retracement of 0.9291 to 0.8470 at 0.8784. On the downside, break of 0.8587 will bring retest of 0.8470 low instead.

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) 0.8706; (P) 0.8736; (R1) 0.8779; More…

Intraday bias in EUR/GBP remains on the upside for the moment. Current rise would target 0.8786 resistance and then 0.8851. Decisive break of 0.8851 will pave the way to retest 0.9304 high. On the downside, break of 0.8654 support is needed to indicate short term topping. Otherwise, outlook will say mildly bullish in case of retreat.

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) 0.8482; (P) 0.8497; (R1) 0.8516; More…

Intraday bias in EUR/GBP remains neutral with bearish outlook. Decline from 0.8786 could be developing into the third leg of the whole corrective pattern from 0.9304. And hence, deeper fall is expected ahead. On the downside, break of 0.8483 will turn bias to the downside for 0.8402 support first. Decisive break there should confirm our bearish view and target 0.8303 and below. As fall from 0.9304 is viewed as a corrective move, we’d expect strong support at 0.8116/20 cluster support to contain downside and bring rebound. On the upside, above 0.8604 minor resistance will delay the bearish case. That is, one more recovery will be seen to complete a five wave triangle pattern fro 0.8303 before completion.

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.

EUR/GBP’s fall from 0.8786 resumed last week by taking out 0.8483 and reaches as low as 0.8466. Near term bearish outlook is unchanged. Consolidation from 0.8303 could be completed at 0.8786. Fall from 0.8786 could be developing as the third leg of the correction from 0.9304. Deeper fall is anticipated through 0.8303 support.

Initial bias in EUR/GBP is now on the downside this week for 0.8402 support. Firm break there should confirm our bearish view and target target 0.8303 and below. At this point, we’d expect front support from 0.8116/20 cluster support to contain downside and complete the correction from 0.9304. On the upside, break of 0.8589 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay cautiously 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.

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 to target 0.9799 high and above.

Daily Pivots: (S1) 0.8597; (P) 0.8612; (R1) 0.8630; More…

Intraday bias in EUR/GBP remains neutral for the moment. 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, e 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.