Daily Pivots: (S1) 0.8418; (P) 0.8427; (R1) 0.8437; More…
Intraday bias in EUR/GBP remains neutral for the moment and outlook is unchanged. While stronger recovery cannot be ruled out, further decline is expected as long as 0.8466 minor resistance holds. Below 0.8399 will resume the fall from 0.8624 and target 0.8382 support. Firm break there will resume larger down trend.
In the bigger picture, as long as 0.8624 resistance holds, down trend from 0.9267 is expected to continue. Firm break of 0.8382 will target 0.8201 (2022 low). However, decisive break of 0.8624 will indicate that such down trend has completed, and turn outlook bullish for 0.8764 resistance next.
