Daily Pivots: (S1) 0.8898; (P) 0.8935; (R1) 0.8980; More…
EUR/GBP’s rally accelerates to as high as 0.9047 so far. Intraday bias remains on the upside for 0.9098 resistance first. Decisive break there will extend the rise to 0.9304 key resistance next. On the downside, below 0.8958 minor support will turn intraday bias neutral and bring some consolidations first, before staying another rally.
In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Sustained break of 0.8939 resistance will confirm that it’s in a medium term rising leg for 0.9098 and above. And for now, in case of another fall, downside will likely be contained by 0.8620/55 support zone to bring rebound.
