Daily Pivots: (S1) 0.8342; (P) 0.8386; (R1) 0.8412; More…

Intraday bias in EUR/GBP remains on the downside for retesting 0.8282 low. Sustained break of 0.8276 key long term support will carry larger bearish implication. On the upside, above 0.8411 minor resistance will turn bias back to the upside for 0.8476 resistance. Break there will resume the rebound from 0.8282.

In the bigger picture, price actions from 0.9499 (2020 high) are still seen a corrective pattern that should be contained by 0.8276 long term support (2019 low). Bullish convergence condition in daily MACD and break of 55 day EMA raises the chance that it might be completed. Sustained trading above 38.2% retracement of 0.9499 to 0.8282 at 0.8747 will affirm this bullish case. However, sustained break of 0.8276 will argue that the long term trend has reversed.

Daily Pivots: (S1) 0.8428; (P) 0.8459; (R1) 0.8475; More…

Further decline is expected in EUR/GBP with 0.8531 minor resistance intact. Rebound from 0.8201 should have completed at 0.8720, after rejection by 0.8697 medium term fibonacci level. Further fall would be seen to retest 0.8201/48 support zone next. On the upside, above 0.8531 minor resistance will turn intraday bias back to the upside for 0.8720 resistance instead.

In the bigger picture, rejection by 38.2% retracement of 0.9499 to 0.8201 at 0.8697 argues that rebound from 0.8201 is merely a corrective move. That is, down trend from 0.9499 (2020 high) is now over. Sustained break of 0.8201 will resume such decline and target 61.8% retracement of 0.6935 to 0.9499 at 0.7917. This will now remain the favored case as long as 0.8720 resistance holds.

Daily Pivots: (S1) 0.8586; (P) 0.8607; (R1) 0.8632; More…

Range trading continues in EUR/GBP and intraday bias remains neutral at this point. On the downside, below 0.8559 will target a test on 0.8470 low. On the upside, though, break of 0.8670 resistance will turn bias to the upside for 0.8718 resistance. Break there will resume the rebound from 0.8470 to 38.2% retracement of 0.9291 to 0.8470 at 0.8784.

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) 0.8564; (P) 0.8577; (R1) 0.8589; More….

Intraday bias in EUR/GBP remains neutral as consolidation from 0.8552 is extending. IN case of another recovery, upside should be limited below 0.8648 support turned resistance to bring another decline. Below 0.8552 will target 0.8491 low first. Firm break there will resume larger down trend.

In the bigger picture, current development suggests that down trend from 0.9267 (2022 high) is still in progress. This decline is seen as the third leg of the pattern from 0.9499 (2020 high). Break of 0.8201 will target 100% projection of 0.9499 to 0.8201 from 0.9267 at 0.7969. In any case, outlook will stay bearish as long as 0.8764 resistance holds.

Range trading continued in EUR/GBP last week and outlook is unchanged. Initial bias remains neutral this week first. As long as 0.8484 support holds, further rise is in favor. 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.

In the long term picture, the lack of medium term downside momentum suggests that fall from 0.9499 (2020 high) is merely a correction to rise from 0.6935 (2015 high). In case of another fall, downside should be contained by 61.8% retracement of 0.6935 to 0.9499 at 0.7917 to bring rebound. Sustained trading above 55 month EMA (now at 0.8604) will indicate that the correction has completed and bring retest of 0.9499.

EUR/GBP dropped further to as low as 0.8875 last week but formed a temporary low there and turned sideway. Initial bias is neutral this week for consolidation first. In case of stronger recovery, upside should be limited well below 0.9051 resistance to bring another decline. As noted before, whole corrective rise from 0.8620 could have finished at 0.9097 already. Break of 0.8875 will target 61.8% retracement of 0.8620 to 0.9097 at 0.8802 and below.

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) 0.8664; (P) 0.8681; (R1) 0.8695; More…

Intraday bias in EUR/GBP is turned neutral with current retreat, and some consolidations could be seen. On the upside, above 0.8698 will resume the rebound from 0.8548 to 0.8764 key resistance next. Nevertheless, break of 0.8649 will argue that the rebound has completed, and turn bias back to the downside for 0.8548 support instead.

In the bigger picture, current development suggests that down trend from 0.9267 (2022 high) is still in progress. This decline is seen as the third leg of the pattern from 0.9499 (2020 high). Break of 0.8201 will target 100% projection of 0.9499 to 0.8201 from 0.9267 at 0.7969. In any case, outlook will stay bearish as long as 0.8764 resistance holds.

Daily Pivots: (S1) 0.8911; (P) 0.8951; (R1) 0.8951; More…

Consolidation from 0.9030 is still in progress and intraday bias in EUR/GBP remains neutral. While deeper pull back cannot be ruled out, we’d expect downside to be contained by 0.8854 support to bring another rally. Firm break of 61.8% retracement of 0.9305 to 0.8620 at 0.9043 will pave the way to retest 0.9305 key resistance. However, sustained break of 0.8854 will indicate near term reversal and turn outlook bearish.

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) 0.8783; (P) 0.8801; (R1) 0.8823; More…

No change in EUR/GBP’s outlook as range trading continues. On the upside, break of 0.8864 will target 0.8924 resistance first. Firm break there should resume larger rise from 0.8545 through 0.8977 high. However, decisive break of 0.8717 support will resume the decline from 0.8977 instead.

In the bigger picture, outlook remains rather mixed for now, except that price actions from 0.9267 (2022 high) are part of the long term range pattern from 0.9499 (2020 high). With 0.8720 support intact, rise from 0.8545 is in favor to continue through 0.8977. However, firm break of 0.8720 will argue that such rebound has completed, and open up deeper fall through this support level.

Daily Pivots: (S1) 0.8508; (P) 0.8529; (R1) 0.8566; More…

Range trading continues in EUR/GBP and intraday bias remains neutral. 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.

Daily Pivots: (S1) 0.8657; (P) 0.8688; (R1) 0.8707; More…

EUR/GBP’s fall from 0.8977 is trying to resume by breaking 0.8660 support. Intraday bias is back on the downside for 100% projection of 0.8977 to 0.8717 from 0.8874 at 0.8614. On the upside, however, break of 0.8717 will indicate short term bottoming, and 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) 0.8724; (P) 0.8744; (R1) 0.8774; More…

Intraday bias in EUR/GBP remains on the upside as rebound from 0.8617 is in progress for 38.2% retracement of 0.9101 to 0.8617 at 0.8802. Break will target 61.8% retracement at 0.8916. On the downside, however, break of 0.8678 minor support will turn bias back to the downside for 0.8620 key support. Decisive break of 0.8620 will resume larger decline from 0.9305 and target 100% projection of 0.9305 to 0.8620 from 0.9101 at 0.8416.

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 breakout of 0.8620 will pave the way back to 0.8312 support . Break of 0.9101 will bring retest of 0.9304/5 resistance.

EUR/GBP recovered notably last week but it’s, after all, staying in consolidation from 0.9030. Initial bias stays neutral this week first. Deeper decline cannot be ruled out as the consolidation extends. But downside should be contained by 0.8854 support to bring rally resumption. On the upside, firm break of 61.8% retracement of 0.9305 to 0.8620 at 0.9043 will pave the way to retest 0.9305 key resistance. However, sustained break of 0.8854 will indicate near term reversal and turn outlook bearish.

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.

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) 0.8672; (P) 0.8687; (R1) 0.8708; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the upside, above 0.8718 resistance will resume the rebound from 0.8470 for 38.2% retracement of 0.9291 to 0.8470 at 0.8784. Sustained break there will affirm the case that whole pattern from 0.9499 has completed, and turn outlook bullish. However, break of 0.8622 support will bring retest of 0.8470 low instead.

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. 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) 0.9029; (P) 0.9076; (R1) 0.9169; More…

EUR/GBP rises to as high as 0.9190 so far. The solid break of 0.9101 resistance carried larger bullish implication. Intraday bias stays on the upside for 0.9305 resistance key resistance next. On the downside, below 0.9086 minor support will turn intraday bias neutral first. But retreat should be contained above 0.8891 support to bring another rally.

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) 0.8366; (P) 0.8401; (R1) 0.8433; More…

Intraday bias in EUR/GBP remains mildly on the upside for 0.8476 key structural resistance Firm break there will carry larger bullish implication. On the downside, break of 0.8315 minor support will retain near term bearishness, and bring retest of 0.8201 low.

In the bigger picture, the down trend from 0.9499 is expected to continue as long as 0.8476 resistance holds. Sustained trading below 0.8276 support will argue that the whole up trend from 0.6935 (2015 low) has reversed. Deeper fall should be seen to 61.8% retracement of 0.6935 to 0.9499 at 0.7917 next. However, firm break of 0.8476 will indicate medium term bottoming at least. Focus will be back on 55 week EMA (now at 0.8534) for more evidence of bullish reversal.

Daily Pivots: (S1) 0.8699; (P) 0.8729; (R1) 0.8767; More…

Intraday bias in EUR/GBP remains neural as consolidation from 0.8786 is still extending. Downside should be contained by 0.8624 support to bring another rally. On the upside, break of 0.8786 will resume larger rise from 0.8201 to 100% projection of 0.8201 to 0.8720 from 0.8338 at 0.8857.

In the bigger picture, current development suggests that the down trend from 0.9499 has (2020 high) has completed at 0.8201. Rise from there is developing into a medium term up trend. Further rally would be seen to 61.8% retracement of 0.9499 to 0.8201 at 0.9003 next. This will now remain the favored case as long as 55 day EMA (now at 0.8545) holds.

Daily Pivots: (S1) 0.8332; (P) 0.8354; (R1) 0.8393; More…

EUR/GBP’s break of 0.8377 resistance indicates short term bottoming at 0.8304, on bullish convergence condition in 4 hour MACD, ahead of 0.8276 low. Intraday bias is back on the upside for 55 day EMA (now at 0.8422). Sustained break there will pave the way back to 0.8598 key structural resistance next. For now, risk will be mildly on the upside as long as 0.8304 support holds, in case of retreat.

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 0.8598 resistance holds, towards long term support at 0.8276. We’d look for bottoming signal around there to bring reversal. Meanwhile, firm break of 0.8598 will now be an early sign of medium term bottoming and bring stronger rebound. However, sustained break of 0.8276 will argue that the long term trend has reversed.

Daily Pivots: (S1) 0.8397; (P) 0.8412; (R1) 0.8440; More…

Intraday bias in EUR/GBP is turned neutral as a temporary low is formed at 0.8381. Some consolidations could be seen, but outlook will stay bearish as long as 0.8593 resistance holds. On the downside, break of 0.8381 will resume larger down trend from 0.9499 to 0.8276 long term support next.

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) 0.8285; (P) 0.8315; (R1) 0.8330; More…

Intraday bias in EUR/GBP stays on the downside for 0.8276 low. Firm break there will confirm resumption of whole fall from 0.9324. Next target is 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8386 support turned resistance will turn bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and bring stronger rebound.