Daily Pivots: (S1) 0.8893; (P) 0.8934; (R1) 0.8959; More…
Intraday bias in EUR/GBP stays on the downside at this point. Choppy rebound from 0.8670 should have already completed at 0.9175. Deeper fall would be seen to 0.8864 support first. Break there should confirm this bearish case and target 0.8670 and below. On the upside, though, break of 0.8974 resistance will turn intraday bias neutral first.
In the bigger picture, at this point, we’s still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds.
