Daily Pivots: (S1) 0.8322; (P) 0.8333; (R1) 0.8347; More…
EUR/GBP is still extending the consolidation pattern from 0.8294 and intraday bias stays neutral. Outlook remains bearish with 0.8433 resistance intact. On the downside, break of 0.8294 will resume larger down trend to 0.8201 key support next. Strong support could be seen from there to bring rebound.
In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 0.8201 (2022 low), but strong support should be seen there to bring rebound. However, outlook will remain bearish as long as 0.8624 resistance holds even in case of strong rebound. Decisive break of 0.8201 will indicate long term bearish reversal.
