Daily Pivots: (S1) 0.8274; (P) 0.8311; (R1) 0.8340; More…
Intraday bias in EUR/GBP remains on the downside with focus on 0.8276 low. Decisive break there will resume whole fall from 0.9324. Next target is 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8348 minor resistance will turn bias to the upside, and extend the consolidation from 0.8276 with another rising leg.
In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and bring stronger rebound.
