Daily Pivots: (S1) 0.8367; (P) 0.8390; (R1) 0.8403; More…
EUR/GBP’s decline accelerates to as low as 0.8344 so far and intraday bias stays on the downside for 61.8% projection of 0.8624 to 0.8399 from 0.8463 at 0.8324. Firm break there will target 100% projection at 0.8237 next. On the upside, above 0.8385 minor resistance will turn intraday bias neutral and bring consolidations. But outlook will stay bearish as long as 0.8463 resistance holds, in case of recovery.
In the bigger picture, down trend from 0.9267 (2022 high) is resuming. Next target is 0.8201 (2022 low), but strong support should be seen there to bring rebound. Outlook will remain bearish as long as 0.8624 resistance holds even in case of strong rebound.
