EUR/GBP’s decline last week suggests that rebound from 0.8548 has completed at 0.8713 already. Initial bias stays mildly on the downside this week for 0.8548 support first. Firm break there will target 0.8491 low next. On the upside, above 0.8638 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 0.8713 resistance holds, in case of recovery.

In the bigger picture, fall from 0.8764 is seen as another leg in the whole down trend from 0.9267 (2022 high). Outlook will stay bearish as long as 0.8764 resistance holds. Break of 0.8491 will target 61.8% projection of 0.8977 to 0.8491 from 0.8764 at 0.8464.

In the long term picture, price action from 0.9499 (2020 high) is see as part of the long term range pattern from 0.9799 (2008 high). Fall from 0.9267 is the third leg of the pattern from 0.9499. Break of 0.8201 (2022 low) will target 100% projection of 0.9499 to 0.8201 from 0.9267 at 0.7969.

Daily Pivots: (S1) 0.8693; (P) 0.8780; (R1) 0.8831; More…

Intraday bias in EUR/GBP is turned neutral again as it retreated after edging higher to 0.8869. On the downside, break of 0.8723 minor support will turn bias back to the downside for resuming the fall from 0.9267 through 0.8647. next target is 0.8338 support. ON the upside, above 0.8869 will resume the rebound from 0.8647 towards 0.9267 resistance.

In the bigger picture, as long as 0.8720 resistance turned support holds, rise from 0.8201 is seen as resuming larger up trend from 0.6935 (2015 low). Break of 0.9499 (2020 high) should be seen at a later stage. However, firm break of 0.8720 will argue that sideway pattern from 0.9499 is extending with another falling leg instead.

Daily Pivots: (S1) 0.9092; (P) 0.9117; (R1) 0.9152; More

With 0.9007 support intact, further rise is expected in EUR/GBP. Current rise from 0.8312 should target a test on 0.9304 high. At this point, there is no clear sign of up trend resumption yet. Hence, we’ll be cautious on strong resistance from 0.9304 to limit upside and bring another fall. On the downside, considering bearish divergence condition in 4 hour MACD, break of 0.9007 support will indicate short term topping. Intraday bias will then be turned back to the downside for 0.8742/8948 support zone.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. It’s uncertain whether it is finished yet. But in case of another fall, 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. Whole up trend from 0.6935 is expected to resume after consolidation from 0.9304 completes.

Daily Pivots: (S1) 0.8948; (P) 0.8972; (R1) 0.8989; More…

While the fall from 0.9097 is steep, EUR/GBP is staying in rising channel and well above 0.8895 support. Hence, there is no indicate of trend reversal yet. Larger rally from 0.8620 is still expected to extend higher. Break of 0.9097 will target a test on 0.9305 high. Though, sustained break of channel support will be the first sign of reversal, and focus will be turned back to 0.8895 for confirmation.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). The corrective structure of the fall from 0.9305 to 0.8620 is raising the chance that rise from 0.8312 to 0.9305 is an impulsive move. But we’re not too confident on it yet. In any case, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

Daily Pivots: (S1) 0.8744; (P) 0.8776; (R1) 0.8815; More…

Intraday bias in EUR/GBP remains neutral first. On the downside, sustained trading below 55 day EMA (now at 0.8656) will extend the fall from 0.9267 (as another falling leg of a long term consolidation pattern), to 0.8201/8338 support zone. On the upside, above 0.8848 minor resistance will turn bias back to the upside for recovery instead.

In the bigger picture, as long as 0.8720 resistance turned support holds, rise from 0.8201 is seen as resuming larger up trend from 0.6935 (2015 low). Break of 0.9499 (2020 high) should be seen at a later stage. However, firm break of 0.8720 will argue that sideway pattern from 0.9499 is extending with another falling leg instead.

Daily Pivots: (S1) 0.8861; (P) 0.8875; (R1) 0.8883; More…

With 0.8828 minor support intact, further rise is expected in EUR/GBP for 0.8981 resistance. Sustained break there will indicate that whole decline from 0.9305 has completed. In such case, EUR/GBP will target a test on 0.9304/5 key resistance. On the downside, below 0.8828 minor support will turn bias back to the downside for 0.8668 instead.

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) 0.8622; (P) 0.8727; (R1) 0.8782; More…

Break of 0.8720 resistance turned support argues that rise from 0.8201 has completed in three-wave corrective pattern. Intraday bias is back on the downside for 55 day EMA (now at 0.8636) first. Firm break there will target 0.8201/8338 support zone. On the upside, above 0.8848 minor resistance will turn intraday bias neutral first.

In the bigger picture, as long as 0.8720 resistance turned support holds, rise from 0.8201 is seen as resuming larger up trend from 0.6935 (2015 low). Break of 0.9499 (2020 high) should be seen at a later stage. However, firm break of 0.8720 will argue that sideway pattern from 0.9499 is extending with another falling leg instead.

Daily Pivots: (S1) 0.8681; (P) 0.8692; (R1) 0.8706; More…

EUR/GBP is staying in consolidation from 0.8660 and intraday bias remains neutral. Further decline is expected as long as 0.8758 resistance holds. On the downside, break of 0.8660 will resume recent decline from 0.8977 to 100% projection of 0.8977 to 0.8717 from 0.8874 at 0.8614. Nevertheless, break of 0.8758 minor resistance will turn bias back to the upside for stronger rebound.

In the bigger picture, current development argues that whole decline from 0.9267 (2022 high) is still in progress. This is part of the long term range pattern from 0.9499 (2020 high). Deeper fall would be seen through 0.8545 support. This will now remain the favored case as long as 0.8874 resistance holds.

Daily Pivots: (S1) 0.8531; (P) 0.8551; (R1) 0.8586; More…

EUR/GBP lost momentum after hitting 0.8590 and intraday bias is turn neutral first. Some consolidations would be seen but outlook will stay bullish as long as 0.8465 resistance turned support holds. On the upside, break of 0.8590 will resume the rise from 0.8210 medium term bottom to 0.8697 medium term fibonacci level next.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

Daily Pivots: (S1) 0.8557; (P) 0.8599; (R1) 0.8624; More…

EUR/GBP is still stuck in sideway trading and intraday bias remains neutral. Further rally is expected with 0.8484 support intact. 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. However, break of 0.8484 will indicate rejection by 0.8697 and turn near term outlook bearish.

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.

EUR/GBP edged higher to 0.8592 last week but turned sideway since then. Initial bias remains neutral this week first. Further rise is expected as long as 0.8504 support holds. On the upside, above 0.8592 will resume the rise form 0.8448 to 0.8668 resistance next. Firm break there will be a strong sign of near term bullish reversal at least On the downside, however, break of 0.8504 will turn bias back to the downside for retesting 0.8448 low instead.

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).

Daily Pivots: (S1) 0.8555; (P) 0.8574; (R1) 0.8597; More…

Intraday bias in EUR/GBP remains neutral at this point. Further decline is expected as long as 0.8619 resistance holds. On the downside, decisive break of 0.8548 will indicate that larger down trend is ready to resume through 0.8491 low. However, break of 0.8619 will dampen this bearish view and turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 0.8764 is seen as another leg in the whole down trend from 0.9267 (2022 high). Outlook will stay bearish as long as 0.8713 resistance holds. Break of 0.8491 will target 61.8% projection of 0.8977 to 0.8491 from 0.8764 at 0.8464.

EUR/GBP recovered last week but failed to break through 0.8577 so far. Initial bias remains neutral this week first. Considering bullish convergence condition in D MACD, decisive break of 0.8577 and 55 D EMA (now at 0.8574) will argue that fall from 0.8764 has completed. Intraday bias will be back on the upside for rebound towards 0.8713 resistance. Nevertheless, firm break of 0.8491/7 support zone will confirm larger down trend resumption.

In the bigger picture, fall from 0.8764 is seen as another leg in the whole down trend from 0.9267 (2022 high). Outlook will stay bearish as long as 0.8713 resistance holds. Break of 0.8491 will target 61.8% projection of 0.8977 to 0.8491 from 0.8764 at 0.8464.

In the long term picture, price action from 0.9499 (2020 high) is seen as part of the long term range pattern from 0.9799 (2008 high). Fall from 0.9267 is the third leg of the pattern from 0.9499. Break of 0.8201 (2022 low) will target 100% projection of 0.9499 to 0.8201 from 0.9267 at 0.7969.

Daily Pivots: (S1) 0.9177; (P) 0.9207; (R1) 0.9253; More

Intraday bias in EUR/GBP remains on the upside as rise from 0.8312 is in progress for testing 0.9304 high. At this point, there is still is no clear sign of up trend resumption yet. Hence, we’ll be cautious on strong resistance from 0.9304 to limit upside and bring another fall. But firm break of 0.9304 will confirm up trend resumption and pave the way to 0.9799. On the downside, below 0.9159 minor support will turn intraday bias neutral first.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. It’s uncertain whether it is finished yet. But in case of another fall, 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. Whole up trend from 0.6935 is expected to resume after consolidation from 0.9304 completes. In that case, 2008 high at 0.9799 will be the next target.