Daily Pivots: (S1) 0.8319; (P) 0.8329; (R1) 0.8335; More…
Intraday bias in EUR/GBP is turned neutral with current recovery. On the upside, firm break of 0.8370 resistance will indicate short term bottoming at 0.8309. Intraday bias will be turned back to the upside for 0.8399/8463 resistance zone. On the downside, firm break of 0.8309 will resume the fall from 0.8624 to 100% projection of 0.8624 to 0.8399 from 0.8463 at 0.8237 next.
In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 0.8201 (2022 low), but strong support should be seen there to bring rebound. However, outlook will remain bearish as long as 0.8624 resistance holds even in case of strong rebound.
