EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8535; (P) 0.8551; (R1) 0.8562; More…

No change in EUR/GBP’s outlook and intraday bias stays on the downside for 0.8529 support. Decisive break there will suggest that larger down trend is ready to resume through 0.8491/7 support one. On the upside, above 0.8567 minor resistance will delay the bearish case and 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.

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