Daily Pivots: (S1) 0.8461; (P) 0.8475; (R1) 0.8494; More…
Intraday bias in EUR/GBP remains on the upside as rebound from 0.8354 extends higher today. Sustained break there will target to 61.8% retracement at 0.8591, even still as a corrective move. On the downside, though, break of 0.8413 will bring retest of 0.8354 low instead.
In the bigger picture, price actions from 0.8221 medium term bottom are merely forming a corrective pattern. Nevertheless, 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.
