Daily Pivots: (S1) 0.8774; (P) 0.8781; (R1) 0.8794; More…
Intraday bias in EUR/GBP remains neutral and further decline is in mildly in favor with 0.8800 resistance intact. Below 0.8720 will target 0.8631 cluster (38.2% retracement of 0.8221 to 0.8663 at 0.8618). However, break of 0.8800 will turn bias back to the upside for retesting 0.8863.
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 0.8605) 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.
. However, break of 0.8800 will turn bias back to the upside for retesting 0.8863.){kind=link}