Daily Pivots: (S1) 0.8809; (P) 0.8826; (R1) 0.8842; More…

EUR/GBP’s rally resumes by taking out 0.8850 and reaches as high as 0.8874 so far. Intraday bias is back on the upside. Further rise should now be seen back to retest 0.9101 key resistance. On the downside, break of 0.8790 minor support will turn bias neutral and bring consolidations again.

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) 0.9056; (P) 0.9074; (R1) 0.9092; More…

Intraday bias in EUR/GBP stays neutral at this point and more consolidation could be seen. 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.

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).

Daily Pivots: (S1) 0.8952; (P) 0.8978; (R1) 0.8991; More…

Intraday bias in EUR/GBP remains neutral at this po9int. Further fall is mildly in favor with 0.9068 resistance intact. Sustained break of 0.8866 will argue that rebound from 0.8670 has completed, and pattern from 0.9499 has started the third leg. Intraday bias will be back on the downside for 0.8670 and possibly below. Nevertheless, firm break of 0.9068 will turn bias back to the upside for 0.9291 resistance.

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).

EUR/GBP edged lower to 0.8448 last week but quickly recovered. Initial bias remains neutral this week first. Outlook stays 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. However, break of 0.8556 will bring stronger rebound back to 0.8668 resistance.

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 0.8718 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) 0.8740; (P) 0.8758; (R1) 0.8790; More…

No change in EUR/GBP’s outlook despite diminishing upside momentum. With 0.8711 minor support intact, further rise is expected. 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) 0.9019; (P) 0.9038; (R1) 0.9075; More…

EUR/GBP rebounds strongly today but stays below 0.9139 temporary top. Intraday bias in EUR/GBP remains neutral first. More sideway trading could be seen. But at this point, further rally will remain in favor as long as 0.8930 support holds. Above 0.9139 will target 0.9175 resistance. Break will resume whole rebound from 0.8670 low.

In the bigger picture, while the pull back from 0.9499 was 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) 0.8410; (P) 0.8447; (R1) 0.8466; More…

EUR/GBP’s break of 0.8401 support indicates resumption of larger down trend from 0.9499. Intraday bias stays on the downside. Deeper fall would now be seen towards 0.8276 long term support next. On the upside, however, break of 0.8460 minor resistance will delay the bearish case and turn intraday bias neutral first.

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) 0.8282; (P) 0.8298; (R1) 0.8317; More…

Intraday bias in EUR/GBP stays neutral as consolidation from 0.8248 is extending. Further decline is still expected as long as 0.8379 resistance holds. Below 0.8248 will target a retest on 0.82101 low. On the upside, however, above 0.8379 minor resistance will turn bias back to the upside. Further 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) 0.8592; (P) 0.8605; (R1) 0.8629; More…

Intraday bias in EUR/GBP remains neutral 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, 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.

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) 0.8569; (P) 0.8577; (R1) 0.8584; More…

Intraday bias in EUR/GBP stays neutral for the moment. 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 0.8713 resistance holds, the down trend will remain in favor to resume through 0.8491 low at la later stage.

EUR/GBP’s fall from 0.8977 resumed last week but recovered after hitting 0.8782. Initial bias is neutral this week first. Another decline is mildly in favor as long as 0.8927 resistance holds. Below 0.8782 will target 0.8720 support. On the upside, break of 0.8927 will revive near term bullishness and bring retest of 0.8977 high.

In the bigger picture, focus is back on 55 day EMA (now at 0.8807). Sustained trading below there will argue that fall from 0.9267 is in progress. Such decline is seen as a leg inside long term range pattern from 0.9499 (2020 high). Break of 0.8545 will pave the way back to 0.8201 (2022 low). On the other hand, strong rebound from current level will extend the rise from 0.8545 through 0.8977 at a later stage.

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) 0.8557; (P) 0.8603; (R1) 0.8654; More…

Intraday bias in EUR/GBP remains neutral at this point as it’s staying in range of 0.8474/8722. Near term outlook remains bearish as long as 0.8722 resistance holds. On the downside, break of 0.8474 will resume larger down trend for 0.8416 long term projection next. On the upside, though, break of 0.8722 will resume the rebound from 0.8474 to 0.8840 resistance first.

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) 0.8873; (P) 0.8901; (R1) 0.8945; More…

As long as 0.9032 resistance holds, risk will stay on the downside for EUR/GBP. Fall from 0.9032 should target 0.8745 low first. Break there will resume whole decline from 0.9305. In that case, it should target 61.8% projection of 0.9305 to 0.8745 from 0.9032 at 0.8686, and then 100% projection at 0.8472.

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) 0.8893; (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’s rebound from 0.8722 extended to as high as 0.8896 last week. The break of 0.8847 support turned resistance will suggest that the fall from 0.9097 has completed at 0.8722 already. Initial bias stays on the upside this week for 61.8% retracement of 0.9097 to 0.8722 at 0.8954 and above. On the downside, break of 0.8798 minor support will turn bias back to the downside for 0.8722 and possibly below.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). On the downside, break of 0.8722 will extend the falling leg through 0.8620 support. On the upside, break of 0.9097 will target 0.9304 resistance instead.

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) 0.8514; (P) 0.8529; (R1) 0.8554; More…

Intraday bias in EUR/GBP is turned neutral again with current recovery. On the downside, break of 0.8520 will extend the choppy fall from 0.8718 to retest 0.8470 low. On the upside, though, break of 0.8616 resistance will indicate completion of the correction from 0.8718, and turn bias back to the upside.

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) 0.8587; (P) 0.8669; (R1) 0.8712; More…

Intraday bias in EUR/GBP remains on the downside with 0.8811 minor resistance intact. Current fall from 0.9324 is still in progress and would target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481. However, break of 0.8811 will turn intraday bias neutral and bring more consolidations. But recovery should be limited below 0.9019 resistance to bring another decline.

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. 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) 0.8557; (P) 0.8598; (R1) 0.8632; More…

Sideway trading continues in EUR/GBP and intraday bias remains neutral. Further decline is expected with 0.8674 resistance intact. Break of 0.8545 will resume the fall from 0.9267, and target 61.8% projection of 0.9267 to 0.8647 from 0.8827 at 0.8444 next. On the upside, above 0.8674 minor resistance will indicate short term bottoming, and bring stronger rebound back to 0.8827 instead.

In the bigger picture, current development suggests that fall from 0.9267 is a down leg inside long term range pattern. Deeper fall could be seen towards 0.8201/8338 support zone. But strong support should be seen there to bring reversal. Nevertheless, firm break of 0.8827 resistance will turn favor to the case that such decline is merely a correction in the up trend from 0.8201. That is, further rally would be seen at a later stage through 0.9267.

Daily Pivots: (S1) 0.8976; (P) 0.9001; (R1) 0.9031; More…

EUR/GBP rises to as high as 0.9026 but it’s still limited below 0.9030 resistance. Intraday bias remains neutral at this point. Consolidation from 0.9030 might still extend with another fall. But even in that case, downside should be contained by 0.8854 support to bring rally resumption. On the upside, firm break of 61.8% retracement of 0.9305 to 0.8620 at 0.9043 will pave the way to retest 0.9305 key resistance. However, sustained break of 0.8854 will indicate near term reversal and turn outlook bearish.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). The corrective structure of the fall from 0.9305 to 0.8620 is raising the chance that rise from 0.8312 to 0.9305 is an impulsive move. But we’re not too confident on it yet. In any case, 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.