Daily Pivots: (S1) 0.8563; (P) 0.8583; (R1) 0.8597; More…
Intraday bias in EUR/GBP remains on the upside at this point. Rebound from 0.8497 is seen as at least correcting the fall from 0.8764. Further rally would be seen to 161.8% projection of 0.8497 to 0.8577 from 0.8503 at 0.8632. For now, further rise will remain in favor as long as 0.8529 minor support holds, in case of retreat.
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.
