EUR/GBP’s break of 0.8551 support indicates that rebound from 0.8453 has completed as a corrective move at 0.8611. Intraday bias is back on the downside for retesting 0.8453 low first. Firm break there will extend the down trend from 0.8863 high. For now, risk will stay on the downside as long as 0.8611 holds, in case of recovery.
In the bigger picture, rise from 0.8221 (2024 low) should have completed at 0.8863, just ahead of 38.2% retracement of 0.9267 (2025 high) to 0.8221 at 0.8867. Deeper fall would be seen back to 0.8221. For now, outlook will be neutral at best as long as 0.8610 support turned resistance hold. However, sustained break of 0.8610 will argue that fall from 0.8863 might have completed as a correction, instead of reversal.
