Daily Pivots: (S1) 0.8425; (P) 0.8442; (R1) 0.8462; More…
Intraday bias in EUR/GBP remains neutral and more consolidations could be seen above 0.8392 temporary low. Further decline remains in favor as long as 0.8539 resistance holds. Below 0.8392 will resume the fall from 0.8737 to 0.8221/8239 support zone.
In the bigger picture, current development suggests that price actions from 0.8221 medium term bottom are merely forming a corrective pattern. However, there is no clear momentum to break through 0.8201 key support (2022 low) yet. Hence, range trading is expected between 0.8221/8737 for now.
