Daily Pivots: (S1) 0.8685; (P) 0.8708; (R1) 0.8727; More….
EUR/GBP is extending the consolidation pattern from 0.8752, with fall from 0.8754 as the third leg. Deeper decline could still be seen to 0.8648 support. But strong support should be seen around there to complete the consolidation and bring rebound. On the upside, decisive break of 0.8752/4 will resume whole rise from 0.8491 to 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.
