Daily Pivots: (S1) 0.8259; (P) 0.8355; (R1) 0.8433; More…
Intraday bias in EUR/GBP remains neutral for consolidation above 0.8276 temporary low first. Upside of recovery should be limited by 0.8508 resistance to bring fall resumption. On the downside, below 0.8276 will resume the decline from 0.9324 and target 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8149 next.
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.
