Daily Pivots: (S1) 0.8665; (P) 0.8676; (R1) 0.8685; More…
EUR/GBP’s break of 0.8691 resistance suggests short term bottoming at 0.8643. Intraday bias is back on the upside for 55 D EMA (now at 0.8716) first. Sustained break there will argue that whole fall from 0.8863 has already completed. On the downside, though, break of 0.8643 will resume the decline to 0.8631 cluster support (38.2% retracement of 0.8221 to 0.8663 at 0.8618).
In the bigger picture, rise from 0.8221 medium term bottom (2024 low) is 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 0.8623) should confirm that this corrective bounce has completed. In this case, deeper fall would be seen back to 0.8201/21 key support zone. 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.
 first. Sustained break there will argue that whole fall from 0.8863 has already completed. On the downside, though, break of 0.8643 will resume the decline to 0.8631 cluster support (38.2% retracement of 0.8221 to 0.8663 at 0.8618).){kind=link}