Daily Pivots: (S1) 0.9191; (P) 0.9220; (R1) 0.9250; More…

No change in EUR/GBP’s outlook. With 0.9088 minor support intact, further rise is expected. Current rally should now target 0.9305 key resistance next. On the downside, break of 0.9088 minor support will turn intraday bias neutral again to bring consolidations, before staging another rise.

In the bigger picture, current development confirms that corrective fall from 0.9305 (2017 high) has completed with three waves down to 0.8472. And, up trend from 0.6935 (2015 low) is ready to resume. Break of 0.9305 will target 0.9799 (2008 high) and then 61.8% projection of 0.6935 to 0.9305 from 0.8472 at 0.9937. In any case, medium term outlook will remain bullish as long as 0.8472 support holds.

Daily Pivots: (S1) 0.8472; (P) 0.8497; (R1) 0.8528; More…

Intraday bias in EUR/GBP stays neural at this point. Fall from 0.8851 is seen as the third leg of the corrective pattern from 0.9304. Below 0.8445 will target 0.8303 low first. Break will confirm our view and target 0.8116 key cluster support level. However, on the upside, break of 0.8643 will invalidate our view. In that case, intraday bias will be turned to the upside for 0.8851 to extend the corrective pattern from 0.8303.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. Deeper fall cannot be ruled out yet. But we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside. Overall, the corrective pattern would take some time to complete before long term up trend resumes at a later stage. Break of 0.9304 will pave the way to 0.9799 (2008 high).

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Daily Pivots: (S1) 0.8964; (P) 0.9002; (R1) 0.9024; More…

Intraday bias in EUR/GBP stays neutral for the moment. Further rise cannot be ruled out with 0.9854 support intact. But we’d be cautious on topping below 0.9101. On the downside, break of 0.8954 support will indicate short term topping. In this case, deeper pull back could be seen to 55 day EMA (now at 0.8875) first.

In the bigger picture, medium term decline from 0.9305 (2017 high) is seen as a corrective move. No change in this view. Current development argues that it might have completed with three waves down to 0.8472, just ahead of 38.2% retracement of 0.6935 (2015 low) to 0.9306 at 0.8400, after hitting 55 month EMA (now at 0.8545). Decisive break of 0.9101 resistance will confirm this bullish case. Nevertheless, as EUR/GBP is still staying inside long term falling channel, correction from 0.9305 could still extend to 0.8400 fibonacci level before completion, if upside is rejected by 0.9101.

Daily Pivots: (S1) 0.8722; (P) 0.8759; (R1) 0.8826; More…

Intraday bias in EUR/GBP remains neutral for the moment. Break of 0.8863 will confirm short term bottoming at 0.8670. Further rise should be seen to 38.2% retracement of 0.9499 to 0.8670 at 0.8987. On the downside, however, break of 0.8670 will resume the fall from 0.9499 to 0.8276/82 key support zone.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The up trend from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

Daily Pivots: (S1) 0.8824; (P) 0.8858; (R1) 0.8878; More…

Intraday bias in EUR/GBP remains on the downside. Fall from 0.9101 would target 61.8% retracement of 0.8655 to 0.9101 at 0.8825. Sustained break there will pave the way back to 0.8655 support. On the upside, break of 0.8986 is needed to indicate short term bottoming. Otherwise, risk will stay on the downside even in case of recovery.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). The medium term range is set between 0.8620 and 0.9101. Downside break out of 0.8620 will pave the way back to 0.8302/12 support zone. Break of 0.9101 will bring retest of 0.9304/5 resistance.

Daily Pivots: (S1) 0.8875; (P) 0.8908; (R1) 0.8935; More…

EUR/GBP’s strong recovery suggests that fall from 0.9000 was just a corrective retreat, and has completed at 0.8880. Intraday bias is turned neutral first. On the upside, break of 0.9000 will resume the rebound from 0.8670 to 61.8% retracement of 0.9499 to 0.8670 at 0.9182 and above. On the downside, though, below 0.8880 will suggest that the rebound from 0.8670 has completed, and turn bias back to the downside for retesting this low.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The up trend from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

Daily Pivots: (S1) 0.8672; (P) 0.8686; (R1) 0.8711; More….

Intraday bias in EUR/GBP remains on the upside with focus on 0.8700 resistance. Decisive break there carry larger bullish implication and bring stronger rally to 0.8874 resistance next. Nevertheless, rejection by this resistance will maintain bearish outlook that larger down trend is not over. Break of 0.8629 resistance turned support will turn bias back to the downside for 0.8568 support first.

In the bigger picture, the down trend from 0.9267 (2022 high) is seen as part of the long term range pattern from 0.9499 (2020 high). Decisive break there will argue that this decline has completed with three waves down to 0.8491. Rise from 0.8491 could then be another leg inside the pattern that targets 0.8977 and above. However, rejection by 0.8700 will keep the down trend alive for another fall through 0.8491 at a later stage.

Daily Pivots: (S1) 0.8638; (P) 0.8668; (R1) 0.8685; More…

EUR/GBP’s rally resumed after brief dip to 0.8639 and reaches as high as 0.8858 so far. Intraday bias is back on the upside and decisive break of 0.8851 will pave the way to retest 0.9304 high. There is no firm sign of up trend resumption yet. Hence, we’ll be cautious on topping around 0.9304. On the downside, break of 0.8639 is now needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. The leg from 0.9304 should have completed after testing 0.8332 structural support. But it’s too early to say that larger rise from 0.6935 is resuming. Rejection from 0.9304 will extend the consolidation with another falling leg. Meanwhile, firm break of 0.9304 will target 0.9799 (2008 high). In case of another decline, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside and bring rebound.

Daily Pivots: (S1) 0.8738; (P) 0.8765; (R1) 0.8796; More…

Intraday bias in EUR/GBP remains on the upside for the moment. short term bottom should be formed after hitting 61.8% projection of 0.9305 to 0.8745 from 0.8967 at 0.8621. Break of 0.8796 will pave the way to key cluster resistance at 0.8967 (50% retracement of 0.9305 to 0.8620 at 0.8963) next. On the downside, break of 0.8688 minor support will dampen the bullish case and turn focus back to 0.8620 instead.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

Daily Pivots: (S1) 0.8587; (P) 0.8615; (R1) 0.8632; More…

Intraday bias in EUR/GBP is neutral for the moment but further decline remains in favor with 0.8674 resistance intact. Current fall from 0.9267 should target 61.8% projection of 0.9267 to 0.8647 from 0.8827 at 0.8444 next. On the upside, above 0.8674 minor resistance will indicate short term bottoming, and bring stronger rebound back to 0.8827 instead.

In the bigger picture, current development suggests that fall from 0.9267 is a down leg inside long term range pattern. Deeper fall could be seen towards 0.8201/8338 support zone. But strong support should be seen there to bring reversal. Nevertheless, firm break of 0.8827 resistance will turn favor to the case that such decline is merely a correction in the up trend from 0.8201. That is, further rally would be seen at a later stage through 0.9267.

Daily Pivots: (S1) 0.8833; (P) 0.8868; (R1) 0.8899; More…

Intraday bias in EUR/GBP remains on the downside at this point. Sustained trading below 0.8861 support will confirm that corrective rebound form 0.8670 has completed. Fall from 0.9929 is seen as the third leg of the pattern from 0.9499. Deeper decline would be seen back to 0.8670 support. On the upside, though, break of 0.8923 minor resistance will dampen this bearish case and turn bias back to the upside for rebound first.

In the bigger picture, we’re seeing the price actions from 0.9499 as developing into a corrective pattern. That is, up trend from 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds. Decisive break of 0.9499 will target 0.9799 (2008 high).

EUR/GBP edged lower last week and outlook is unchanged. Rebound from 0.8448 could have completed at 0.8612 already. Also, with 0.8668 resistance intact, larger fall from 0.9499 is probably still in progress. Deeper decline is in favor as long as 0.8561 minor resistance holds, for retesting 0.8448 low first. On the upside, however, break of 0.8561 minor resistance will turn bias back to the upside for 0.8612 resistance.

In the bigger picture, price actions from 0.9499 (2020 high) are still seen as developing into a corrective pattern. Deeper fall could be seen as long as 0.8668 resistance holds, towards long term support at 0.8276. However, firm break of 0.8668 resistance would argue that a medium term bottom was already formed. Stronger rise would be seen to 0.8861 support turned resistance to confirm completion of the corrective pattern.

In the long term picture, outlook will stay bullish as long as 0.8276 support holds. Break of 0.9499 is in favor at a later stage, to resume the up trend from 0.6935 (2015 low).

EUR/GBP’s breach of 0.8808 support last week suggests that rebound from 0.8688 is already completed at 0.8928. Further fall is expected this week to retest 0.8688. Firm break there would resume whole fall from 0.9305 to retest 0.8303/12 key support zone. And, this will now be the favored as long as 0.8928 resistance holds, even in case of recovery.

In the bigger picture, there are various ways to interpret price actions from 0.9304 high. But after all, firm break of 0.9304/5 is needed to confirm up trend resumption. Otherwise, range trading will continue with risk of deeper fall. And in that case, EUR/GBP could have a retest on 0.8303. But we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

In the long term picture, we’re holding on to the view that rise from 0.6935 (2015 low) is resuming the up trend from 0.5680 (2000 low). Hence, after the consolidation from 0.9304 completes, we’d expect another medium term up trend through 0.9799 to 100% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

Daily Pivots: (S1) 0.8418; (P) 0.8443; (R1) 0.8458; More…

EUR/GBP’s declined resumed by breaking 0.8420 and intraday bias is back on the downside. The current down trend from 0.9499 is in progress for 0.8276 key long term support next. On the upside, break of 0.8467 minor resistance will now indicate short term bottoming,and bring stronger rebound back to 55 day EMA (now at 0.8516).

In the bigger picture, price actions from 0.9499 (2020 high) are still seen as developing into a corrective pattern. Deeper fall could be seen as long as 0.8656 resistance holds, towards long term support at 0.8276. However, firm break of 0.8656 resistance would argue that a medium term bottom was already formed. Stronger rise would be seen to 0.8861 support turned resistance to confirm completion of the corrective pattern.

Daily Pivots: (S1) 0.8567; (P) 0.8593; (R1) 0.8636; More…

Range trading continues in EUR/GBP and intraday bias remains neutral at this point. On the downside, break of 0.8484 support will suggest rejection by 0.8697 medium term fibonacci resistance. Outlook will be turned bearish for 0.8248 support next. On the upside, break of 0.8720 and sustained trading above 0.8697 medium term fibonacci level will carry larger bullish implication. Next target is 0.9003 fibonacci level.

In the bigger picture, rise from 0.8201 medium term bottom could could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. Sustained break of 38.2% retracement of 0.9499 to 0.8201 at 0.8697 will affirm the latter case, and pave the way to 61.8% retracement at 0.9003. However, rejection by 0.8697 will maintain medium term bearishness.

Daily Pivots: (S1) 0.8498; (P) 0.8522; (R1) 0.8552; More…

EUR/GBP is still bounded in range of 0.84689/8643 and intraday bias remains neutral. We maintain that price actions from 0.8460 is corrective in nature. And fall from 0.8851 is still in progress. Indeed, such decline is seen as is the third leg of the corrective pattern from 0.9304. Break of 0.8469 will target 0.8303 low next.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. Deeper fall cannot be ruled out yet. But we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside. Overall, the corrective pattern would take some time to complete before long term up trend resumes at a later stage. Break of 0.9304 will pave the way to 0.9799 (2008 high).

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Daily Pivots: (S1) 0.8960; (P) 0.8983; (R1) 0.9006; More…

Intraday bias in EUR/GBP remains neutral first. As long as 0.8931 resistance turned support holds, further rally is expected in the cross. On the upside, decisive break of 0.9098 resistance will extend the rally from 0.8655 and target 0.9304 key resistance next. However, considering bearish divergence condition in 4 hour MACD, firm break of 0.8931 will indicate near term reversal and target 0.8810 support and below.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). It should be in medium term rising leg for 0.9304. Meanwhile, in case of another fall, down side should be contained by 0.8620/55 support zone to bring rebound.

Daily Pivots: (S1) 0.8405; (P) 0.8428; (R1) 0.8467; More…

Intraday bias in EUR/GBP is turned neutral first with current recovery. On the upside, break of 0.8491 resistance will resume the rebound from 0.8338. That would also argue that choppy decline from 0.8720 has completed. Bias will be back to the upside for 0.8585 resistance. On the downside, below 0.8386 should resume the fall from 0.8720 through 0.8338.

In the bigger picture, current development suggests rejection by 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Medium term bearishness is maintained. Break of 0.8201 will resume larger down trend from 0.9499 (2020 high). Nevertheless, sustained break of 0.8697 will affirm the case that rise from 0.8201 is a medium term up trend itself.

Daily Pivots: (S1) 0.8872; (P) 0.8895; (R1) 0.8917; More…

Range trading continues in EUR/GBP, inside 0.8686/8928. Intraday bias remains neutral. Near term outlook will remain mildly bearish as long as 0.8928 resistance holds. On the downside, firm break of 0.8686 will resume whole decline from 0.9305. As 61.8% retracement of 0.8312 to 0.9305 should then be taken out too. Deeper decline would be seen to retest 0.8303/8312 support zone. Nonetheless, on the upside, break of 0.8928 will indicate near term reversal and turn outlook bullish for 0.9304 resistance.

In the bigger picture, there are various ways to interpret price actions from 0.9304 high. But after all, firm break of 0.9304/5 is needed to confirm up trend resumption. Otherwise, range trading will continue with risk of deeper fall. And in that case, EUR/GBP could have a retest on 0.8303. But we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

Daily Pivots: (S1) 0.8733; (P) 0.8802; (R1) 0.8841; More…

EUR/GBP drops sharply to as low as 0.8763 so far. Intraday bias remains on the downside as fall from 0.9101 is targeting 0.8655 support. On the upside, break of 0.8927 support turned resistance is needed to confirm short term bottoming. Otherwise, risk will stay on the downside even in case of recovery.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). The medium term range is set between 0.8620 and 0.9101. Downside break out of 0.8620 will pave the way back to 0.8302/12 support zone. Break of 0.9101 will bring retest of 0.9304/5 resistance.