Daily Pivots: (S1) 0.8288; (P) 0.8296; (R1) 0.8306; More…
Intraday bias in EUR/GBP remains neutral for the moment as range trading continues inside 0.8221/8326. On the upside, firm break of 0.8326 resistance will confirm short term bottoming at 0.8221, ahead of 0.8201 key support. Intraday bias will be turned back to the upside for 0.8446 structural resistance next.
In the bigger picture, focus remains on whether 0.8201 key support (2022 low) is strong enough to complete the whole down trend from 0.9267 (2022 high). In any case, medium term outlook will be neutral at best until decisive break of 0.8624 key resistance. Risk will stay on the downside even in case of strong rebound.
