Daily Pivots: (S1) 0.8476; (P) 0.8505; (R1) 0.8551; More….
EUR/GBP’s rally continues today and intraday bias stays on the upside. Sustained break of above falling channel resistance (now at 0.8555) will raise the chance of larger bullish trend reversal and target 0.8643 resistance next. On the downside, below 0.8517 minor support will turn intraday bias neutral first.
In the bigger picture, while the rebound from 0.8382 is strong, there is no confirmation of trend reversal yet. As long as 0.8643 resistance holds, down trend from 0.9267 could still resume through 0.8382 at a later stage. However, firm break of 0.8643 will indicate that such down trend has completed, and turn outlook bullish.
 will raise the chance of larger bullish trend reversal and target 0.8643 resistance next. On the downside, below 0.8517 minor support will turn intraday bias neutral first.){kind=link}