Daily Pivots: (S1) 0.8557; (P) 0.8572; (R1) 0.8592; More…
Intraday bias in EUR/GBP remains neutral with focus on 0.8582 resistance. Further decline is expected as long as 0.8582 resistance holds. Below 0.8529 will target 0.8491/7 support zone. However, decisive break of 0.8582 will bring stronger rise back to 0.8643 resistance instead.
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.
