Daily Pivots: (S1) 0.8271; (P) 0.8291; (R1) 0.8300; More…
EUR/GBP’s fall from 0.8472 resumed by breaking through 0.8290 support. Intraday bias is back on the downside for retesting 0.8221 low. For now, risk will remain on the downside as long as 0.8376 resistance holds, in case of recovery.
In the bigger picture, rebound from 0.8221 medium term bottom could extend higher through 55 W EMA (now at 0.8435). However, medium term outlook will be neutral at best as long as 0.8624 cluster resistance zone (38.2% retracement of 0.9267 to 0.8221 at 0.8621) holds. Another decline through 0.8221 would remain mildly in favor. Firm break of 0.8221 will resume whole down trend from 0.9267 (2022 high) and carry larger bearish implications.
