Daily Pivots: (S1) 0.8792; (P) 0.8814; (R1) 0.8850; More…
Intraday bias in EUR/GBP is turned neutral first as it recovered after dipping to 0.8776. Outlook is unchanged that corrective pattern from 0.8977 might extend further. Below 0.8776 will target 0.8753 support and below. But strong support is expected from 0.8720 to contain downside and bring rebound. On the upside, above 0.8862 minor resistance will turn bias back to the upside for 0.8924 resistance and above.
In the bigger picture, outlook is rather mixed for now, except that price actions from 0.9267 (2022 high) are part of the long term range pattern from 0.9499 (2020 high). With 0.8720 support intact, rise from 0.8545 is in favor to continue through 0.8977. However, firm break of 0.8720 will argue that such rebound has completed, and open up deeper fall through this support level.
