Daily Pivots: (S1) 0.8295; (P) 0.8314; (R1) 0.8325; More…
EUR/GBP dips notably today but stays above 0.8259 support. Intraday bias remains neutral first. Further decline is expected with 0.8446 resistance intact. On the downside, decisive break of 0.8259 will resume larger down trend to 0.8201 key support.
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. Decisive break of 0.8201 will indicate long term bearish reversal.
