Daily Pivots: (S1) 0.8352; (P) 0.8401; (R1) 0.8483; More…
Intraday bias in EUR/GBP stays on the upside for medium term channel resistance (now at 0.8490). Firm break there will target 100% projection of 0.8239 to 0.8448 from 0.8314 at 0.8523. On the downside, below 0.8412 minor support will turn intraday bias neutral and bring consolidations first.
In the bigger picture, EUR/GBP is still bounded inside medium term falling channel. While rebound from 0.8221 might extend higher, it could still develop into a corrective pattern. Overall outlook will be neutral at best and down trend from 0.9267 (2022 high) could extend, at least until decisive break of channel resistance (now at 0.8490).
. Firm break there will target 100% projection of 0.8239 to 0.8448 from 0.8314 at 0.8523. On the downside, below 0.8412 minor support will turn intraday bias neutral and bring consolidations first.s){kind=link}