Daily Pivots: (S1) 0.8631; (P) 0.8647; (R1) 0.8657; More….
EUR/GBP’s break of 0.8648 support argues that corrective rebound from 0.8491 has completed at 0.8764 already. Intraday bias is now on the downside for 0.8614 support first. Firm break there will target a retest on 0.8491 low. On the upside, above 0.8682 minor resistance will turn intraday bias neutral first.
In the bigger picture, outlook is mixed up by deeper than expected fall from 0.8764. On the downside, firm break of 0.8614 support will argue that down trend from 0.9267 (2022 high) is still in progress. Deeper fall would be seen through 0.8941 low. Nevertheless, break of 0.8764 will revive that case of medium term bullish reversal.
