EUR/GBP’s fall from 0.9299 resumed last week and hit as low as 0.8638. Initial bias stays on the downside this week for 161.8% projection of 0.9291 to 0.8861 from 0.9229 at 0.8533. We’ll look for bottoming signal around there. On the upside, break of 0.8790 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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).

In the long term picture, rise from 0.6935 (2015 low) is still in progress. It could be resuming long term up trend from 0.5680 (2000 low). Break of 0.9799 (2008 high) is expected down the road, as long as 0.8276 support holds.

Daily Pivots: (S1) 0.8694; (P) 0.8721; (R1) 0.8742; More…

Intraday bias in EUR/GBP is mildly on the downside as deeper fall could be seen to retest 0.8666. But after all, it’s staying in range of 0.8666/8796. On the downside, decisive break of 0.8666/86 support zone will resume whole fall from 0.9305. In that case, EUR/GBP should target 0.8303 key support next. On the upside, above 0.8749 will reaffirm the strong support from 0.8686 and turn bias to the upside for 0.8796. Break there will target 61.8% retracement of 0.8967 to 0.8666 at 0.8852 and above.

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) 0.8539; (P) 0.8551; (R1) 0.8565; More…

EUR/GBP’s decline is still in progress despite loss of downside momentum. Intraday bias stays on the downside. Current fall from 0.8713 is part of the larger down trend. Deeper decline should be seen to 0.8491 low, and then 0.8464 projection level. On the upside, above 0.8591 minor resistance will turn intraday bias neutral and bring consolidations again.

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.

Daily Pivots: (S1) 0.8491; (P) 0.8526; (R1) 0.8548; More…

Intraday bias in EUR/GBP remains on the downside for the moment. Current decline from 0.8977 is in progress for 61.8% projection of 0.8874 to 0.8517 from 0.8650 at 0.8436. On the upside, above 0.8583 minor resistance will turn intraday bias neutral first. But near term outlook will remain bearish as long as 0.8657 resistance holds, in case of recovery.

In the bigger picture, the down trend from 0.9267 (2022 high) is still in progress. It’s seen as part of the long term range pattern from 0.9499 (2020 high). Deeper fall could be seen towards 0.8201 (2022 low). But strong support should be seen from there to bring reversal. This will now remain the favored case as long as 0.8657 resistance holds.

Daily Pivots: (S1) 0.8545; (P) 0.8564; (R1) 0.8579; More…

Intraday bias in EUR/GBP remains neutral at this point. On the downside, below 0.8540 will resume the choppy fall from 0.8718 to retest 0.8470 low. Nevertheless, on the upside, break of 0.8627 will turn bias back to the upside for 0.8670 resistance and above instead.

In the bigger picture, price actions from 0.9499 are still seen 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. However, firm break of 0.8276 support will suggest that rise from 0.6935 has completed and turn medium term outlook bearish.

Daily Pivots: (S1) 0.8696; (P) 0.8711; (R1) 0.8731; More…

For now, choppy decline from 0.8796 might extend lower. And, decisive break of 0.8666 will resume whole fall from 0.9305. In that case, EUR/GBP should target 0.8303 key support next. On the upside, above 0.8749 will reaffirm the strong support from 0.8686 and turn bias to the upside for 0.8796. Break there will target 61.8% retracement of 0.8967 to 0.8666 at 0.8852 and above.

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) 0.8700; (P) 0.8677; (R1) 0.8712; More…

Intraday bias in EUR/GBP remains on the downside as fall from 0.8967 is in progress. 61.8% projection of 0.9305 to 0.8745 from 0.8967 at 0.8621 is first target. Sustained break there will pave the way to 100% projection at 0.8407. On the upside, above 0.8670 minor resistance will turn intraday bias neutral first. But outlook will now stay bearish as long as 0.8796 resistance holds.

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.

EUR/GBP stays in sideway trading below 0.8617 last week and outlook is unchanged. Initial bias stays neutral this week first. With 0.8365 support intact, further rise is in favor. On the upside, break of 0.8617 will resume rise from 0.8201 medium term bottom to 0.8697 medium term fibonacci level. However, break of 0.8365 will dampen this bullish view, and turn bias back to the downside instead.

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.

In the long term picture, current development argues that fall from 0.9499 is probably the third leg of the pattern from 0.9799 (2008 high). Sustained break of 61.8% retracement of 0.6935 to 0.9499 at 0.7917 will pave the way back to 0.6935 (2015 low) and probably below. However, sustained trading above 55 month EMA (now at 0.8604) will dampen this bearish view and bring stronger rebound.

Daily Pivots: (S1) 0.8398; (P) 0.8433; (R1) 0.8455; More…

EUR/GBP’s decline continues today and intraday bias stays on the downside. Sustained break of 0.8411 fibonacci level will target 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8149 next. On the upside, above 0.8467 minor resistance will turn intraday bias neutral first and bring consolidations, before staging another fall.

In the bigger picture, correction from 0.9324 medium term top is still in progress. Based on current downside momentum, sustained break of 38.2% retracement of 0.6935 to 0.9324 at 0.8411 would pave the way to 61.8% retracement at 0.7848. In any case, further decline would remain in favor as long as 0.8786 support turned resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 0.8669; (P) 0.8682; (R1) 0.8696; More…

Intraday bias in EUR/GBP remains neutral for the moment. 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) 0.8726; (P) 0.8762; (R1) 0.8780; More…

EUR/GBP’s fall resumes after brief consolidation and intraday bias stays on the downside. Current decline from 0.8967 should target to retest 0.8686 low. We’d be cautious on strong support from there to bring another rebound. But decisive break of 0.8686 will resume whole fall from 0.9305 and target 0.8303 key support next. On the upside, above 0.8798 minor resistance will turn bias neutral and bring recovery first, before staging another fall.

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) 0.8550; (P) 0.8568; (R1) 0.8580; More…

EUR/GBP’s break of 0.8548/54 indicates down trend resumption. Intraday bias is back on the downside. Next target is 0.8491 low, and then 0.8464 projection level. On the upside, above 0.8591 minor resistance will turn intraday bias neutral and bring consolidations again.

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.

Daily Pivots: (S1) 0.9001; (P) 0.9033; (R1) 0.9065; More…

Intraday bias in EUR/GBP remains neutral for consolidation below 0.9078 temporary top. Rebound from 0.8670 is still in favor to continue. On the upside, break of 0.9078 will target 61.8% retracement of 0.9499 to 0.8670 at 0.9182. However, break of 0.8864 will confirm completion of the rebound and bring retest of 0.8670 low.

In the bigger picture, while the pull back from 0.9499 was 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.

EUR/GBP edged lower to 0.8847 last week but staged a strong rebound from there. There development suggests that fall from 0.9097 has completed. More importantly, the corrective structure argues that larger rise from 0.8620 is not completed. Initial bias stays on the upside this week for 0.9097 resistance first. Firm break there will resume the rise from 0.8620 towards 0.9305 high. On the downside, break of 0.8936 minor support will turn intraday bias neutral first.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, 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.

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) 0.8948; (P) 0.9021; (R1) 0.9058; More…

EUR/GBP’s rejection from 0.9097 was rather strong and it drops sharply to as low as 0.8971. For now, deeper pull back could be seen. But the cross is staying inside rising channel and well above 0.8895 support. 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.

EUR/GBP edged lower to 0.8529 last week but subsequent rebound, and breach of 0.8600 resistance argues that corrective fall from 0.8718 has completed. Initial bias is mildly on the upside this week for 0.8670 resistance for confirmation. On the downside, however, below 0.8529 will resume the choppy fall to retest 0.8470 low.

In the bigger picture, price actions from 0.9499 are still seen 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. However, firm break of 0.8276 support will suggest that rise from 0.6935 has completed and turn medium term outlook bearish.

In the long term picture, rise from 0.6935 (2015 low) is still in progress. It could be resuming long term up trend from 0.5680 (2000 low). Break of 0.9799 (2008 high) is expected down the road, as long as 0.8276 support holds.

Daily Pivots: (S1) 0.8933; (P) 0.8959; (R1) 0.8984; More…

A temporary top is in place at 0.8994 and intraday bias is turned neutral first. Corrective pull back from 0.9097 should have completed at 0.8847 and further rise is in favor. Above 0.8994 will target 0.9097 resistance first. Firm break there will resume the rise from 0.8620 towards 0.9305 high.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, 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) 0.8878; (P) 0.8913; (R1) 0.8941; More…

At this point, further rise is still expected in EUR/GBP. Prior break of 0.8928 resistance indicates near term trend reversal. Decline from 0.9305 has completed at 0.8686 after hitting 61.8% retracement of 0.8312 to 0.9305. Further rise should be seen back to 61.8% retracement of 0.9305 to 0.8686 at 0.9069. Firm break there will target retest of 0.9305 high. On the downside, below 0.8877 minor support will dampen this bullish view and target 0.8771 support 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 conf irm 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.

EUR/GBP stayed in range trading below 0.9054 last week and outlook is unchanged. Initial bias remains neutral this week and further rise is in favor as long as 0.8866 minor support holds. On the upside, above 0.9054 will extend the rebound form 0.8670 to 61.8% retracement of 0.9499 to 0.8670 at 0.9182. However, firm break of 0.8866 will complete a head and should top pattern. That will indicate completion of the rise from 0.8670. Intraday bias will be turned back to the downside for retesting 0.8670 support.

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.

In the long term picture, rise from 0.6935 (2015 low) is still in progress. It could be resuming long term up trend from 0.5680 (2000 low). Decisive break of 0.9799 will target 100% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

Daily Pivots: (S1) 0.8534; (P) 0.8552; (R1) 0.8568; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the downside, break of 0.8497 will resume extend recent fall to 0.8464 projection level. Nevertheless, considering bullish convergence condition in 4H MACD, sustained break of 0.8571 will confirm short term bottoming, 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.