Daily Pivots: (S1) 0.8800; (P) 0.8812; (R1) 0.8820; More…
Intraday bias in EUR/GBP stays neutral as sideway trading continues. Considering bearish divergence condition in 4H MACD, firm break of 0.8765 support will confirm short term topping. Deeper fall should then be seen back to 55 D EMA (now at 0.8734) even still as a correction. On the upside, however, sustained trading above 0.8867 fibonacci level will carry larger bullish implications. Next near term target will be 100% projection of 0.8354 to 0.8752 from 0.8631 at 0.9029.
In the bigger picture, rise from 0.8221 medium term bottom is still seen as a corrective move. Upside should be limited by 61.8% retracement of 0.9267 to 0.8221 at 0.8867. Sustained trading below 55 W EMA (now at 0.8589) should confirm that this corrective bounce has completed. However, decisive break of 0.8867 will suggest that EUR/GBP is already reversing whole decline from 0.9267 (2022 high). That should pave the way back to 0.9267.
 even still as a correction. On the upside, however, sustained trading above 0.8867 fibonacci level will carry larger bullish implications. Next near term target will be 100% projection of 0.8354 to 0.8752 from 0.8631 at 0.9029.){kind=link}