Daily Pivots: (S1) 0.8550; (P) 0.8567; (R1) 0.8576; More…
Intraday bias in EUR/GBP remains on the downside at this point. Corrective rebound from 0.8497 should have completed at 0.8643, after rejection by trend line resistance. Deeper fall would be seen to retest 0.8491/7 support zone. On the upside, above 0.8582 minor resistance will turn intraday bias neutral first.
In the bigger picture, outlook remains bearish as EUR/GBP is capped below medium term falling trendline. That is, down trend from 0.9267 (2022 high) is still in progress. Firm break of 0.8491/7 will target 100% projection of 0.8764 to 0.8497 from 0.8643 at 0.8376.
