Daily Pivots: (S1) 0.8591; (P) 0.8611; (R1) 0.8636; More…
Intraday bias in EUR/GBP is turned neutral first but further decline is expected with 0.8779 resistance intact. Break of 0.8570 will resume the fall from 0.9267 and target 0.8201/8388 support zone. However, break of 0.8770 will turn bias back to the upside for 0.8869 resistance and above.
In the bigger picture, current development suggests that fall from 0.9267 is a down leg inside long term range pattern. Deeper fall could be seen towards 0.8201/8338 support zone. But strong support should be seen there to bring reversal.
