Daily Pivots: (S1) 0.8696; (P) 0.8720; (R1) 0.8737; More…
Intraday bias in EUR/GBP is turned neutral first with current retreat, and further rally remains in favor. On the upside, above 0.8740 will resume the rebound from 0.8610 short term bottom to 0.8788 resistance next. However, break of 0.8675 will bring retest of 0.8610 low instead.
In the bigger picture, strong support was seen again from 38.2% retracement of 0.8821 to 0.8863 at 0.8618. Break of 0.8788 resistance will argue that larger rise from 0.8221 might be resume to resume through 0.8863. Nevertheless, sustained trading below 0.8618 should confirm reversal, and bring deeper fall to 61.8% retracement at 0.8466 at least.
