Daily Pivots: (S1) 0.8512; (P) 0.8531; (R1) 0.8561; More…

Intraday bias in EUR/GBP remains neutral but further rise is expected with 0.8487 minor support intact. On the upside, firm break of 0.8593 resistance will be the first sign of larger bullish reversal and target 0.8656 resistance next. On the downside, however, break of 0.8487 will turn bias back to the downside to retest 0.8379 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 0.8593 resistance holds, towards long term support at 0.8276. We’d look for bottoming signal around there to bring reversal. Meanwhile, firm break of 0.8593 will now be an early sign of medium term bottoming. Further break of 0.8656 will pave the way to 38.2% retracement of 0.9499 to 0.8379 at 0.8807.

Daily Pivots: (S1) 0.8320; (P) 0.8344; (R1) 0.8372; More…

Range trading continues in EUR/GBP and intraday bias remains neutral first. On the upside, above 0.8405 will target 0.8476 resistance first. Break there will resume the rebound from 0.8282 to 0.8598 key resistance level. On the downside, though, break of 0.8304 will turn bias back to the downside for 0.8282 low again.

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). 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. Deeper decline would be seen to 61.8% retracement of 0.6935 to 0.9499 at 0.7917.

EUR/GBP’s decline from 0.9305 accelerated last week and reached as low as 0.8773. Such fall is seen as the third leg of the consolidation from 0.9304. Initial bias remains on the downside this week for 61.8% retracement of 0.8312 to 0.9305 at 0.8691 and below. We’ll look for bottoming signal again at it approaches 0.8303 support. On the upside, above 0.8981 minor resistance will turn intraday bias neutral and bring recovery, before staging another fall.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. It’s still in progress with fall from 0.9305 as the third leg. Break of 0.8303 could be seen. 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. Whole up trend from 0.6935 is expected to resume after consolidation from 0.9304 completes.

In the long term picture, firstly, price action from 0.9799 (2008 high) is seen as a long term corrective pattern and should have completed at 0.6935 (2015 low). Secondly, rise from 0.6935 is likely resuming up trend from 0.5680 (2000 low). Thirdly, this is supported by the impulsive structure of the rise from 0.6935 to 0.9304. Hence, after the correction from 0.9304 completes, we’d expect another medium term up trend through 0.9799 to 61.8% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

Daily Pivots: (S1) 0.9014; (P) 0.9047; (R1) 0.9076; More…

Intraday bias in EUR/GBP remains neutral as consolidation from 0.9175 is extending. On the upside, firm break of 0.9175 resistance will resume whole rise from 0.8670. Nevertheless, break of 0.8930 will bring deeper fall to 0.8864 support and possibly below.

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.

Daily Pivots: (S1) 0.8758; (P) 0.8823; (R1) 0.8855; More…

Intraday bias in EUR/GBP remains on the downside at this point. Rebound from 0.8545 might have completed at 0.8977 already. Further fall would be seen to 0.8720 support first. Break there will bring deeper decline to retest 0.8545. For now, risk will stay on the downside as long as 0.8927 resistance holds, in case of recovery.

In the bigger picture, focus is back on 55 day EMA (now at 0.8804). Sustained trading below there will argue that fall from 0.9267 is in progress. Such decline is seen as a leg inside long term range pattern from 0.9499 (2020 high). Break of 0.8545 will pave the way back to 0.8201 (2022 low).

Daily Pivots: (S1) 0.8408; (P) 0.8433; (R1) 0.8449; More…

Intraday bias in EUR/GBP remains on the downside as fall from 0.8595 is in progress. Corrective rise from 0.8726 should have completed. Further fall would be seen to retest 0.8726 low. Break will resume larger down trend from 0.9324. On the upside, above 0.8457 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 0.8595 resistance holds, in case of recovery.

In the bigger picture, decline from 0.9324 medium term top is till in progress. As long as 0.8786 support turned resistance 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 turn focus back to this high.

Daily Pivots: (S1) 0.8631; (P) 0.8647; (R1) 0.8657; More….

EUR/GBP’s break of 0.8648 support argues that corrective rebound from 0.8491 has completed at 0.8764 already. Intraday bias is now on the downside for 0.8614 support first. Firm break there will target a retest on 0.8491 low. On the upside, above 0.8682 minor resistance will turn intraday bias neutral first.

In the bigger picture, outlook is mixed up by deeper than expected fall from 0.8764. On the downside, firm break of 0.8614 support will argue that down trend from 0.9267 (2022 high) is still in progress. Deeper fall would be seen through 0.8941 low. Nevertheless, break of 0.8764 will revive that case of medium term bullish reversal.

Daily Pivots: (S1) 0.8785; (P) 0.8803; (R1) 0.8823; More…

Intraday bias in EUR/GBP remains mildly on the downside for the moment. Fall from 0.8977 would target 0.8720 support first. Decisive break there will argue that whole rebound from 0.8545 has completed, and bring retest to this low. For now, risk will stay on the downside as long as 0.8927 resistance holds, in case of recovery.

In the bigger picture, focus is back on 55 day EMA (now at 0.8804). Sustained trading below there will argue that fall from 0.9267 is in progress. Such decline is seen as a leg inside long term range pattern from 0.9499 (2020 high). Break of 0.8545 will pave the way back to 0.8201 (2022 low).

EUR/GBP stayed in consolidation from 0.8617 last week. Initial bias remains 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.

EUR/GBP’s decline from 0.9305 short term top extended lower last week. Initial bias stays on the downside this week for 55 day EMA (now at 0.9018). Sustained trading below there will likely start the third leg of the consolidation from 0.9304 and target 38.2% retracement of 0.8312 to 0.9305 at 0.8926 first. On the upside, above 0.9202 minor resistance will turn bias back to the upside for 0.9305 resistance instead.

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. Firm break of 0.9799 high will target 61.8% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

In the long term picture, firstly, price action from 0.9799 (2008 high) is seen as a long term corrective pattern and should have completed at 0.6935 (2015 low). Secondly, rise from 0.6935 is likely resuming up trend from 0.5680 (2000 low). Thirdly, this is supported by the impulsive structure of the rise from 0.6935 to 0.9304. Hence, after the correction from 0.9304 completes, we’d expect another medium term up trend through 0.9799 to 61.8% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

Daily Pivots: (S1) 0.8534; (P) 0.8568; (R1) 0.8587; More…

EUR/GBP is staying in range above 0.8540 and intraday bias 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.

EUR/GBP edged higher to 1.8812 last week but failed to sustain above 38.2% retracement of 0.9101 to 0.8617 at 0.8802. Initial bias is neutral this week first. As long as 0.8711 minor support holds, further rise is still in favor. On the upside, break of 0.8802 will target 61.8% retracement at 0.8916. However, break of 0.8711 will suggest that rebound from 0.8617 has completed. Intraday bias will be turned back to the downside for 0.8617/20 support instead.

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.

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). As long as 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) holds, further rise should be seen through 0.9305 to 0.9799 and above down the road.

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) 0.8691; (P) 0.8738; (R1) 0.8770; More…

EUR/GBP’s decline from 0.9499 is still in progress and intraday bias remains on the downside. Firm break of 61.8% retracement of 0.8282 to 0.9499 at 0.8747 dampens near term bullishness. Further fall would now be seen back to 0.8276/82 key support zone. On the upside, though, break of 0.8863 minor resistance will indicate short term bottoming and bring rebound.

In the bigger picture, up trend from 0.6935 (2015 ) should still be in progress. Next target is 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. Initial resistance could be seen around there as it’s close to 0.9799 (2008 high). In any case, medium term outlook will stay bullish as long as 0.8276 support holds, even in case of deep pull back.

Daily Pivots: (S1) 0.8569; (P) 0.8589; (R1) 0.8605; More…

EUR/GBP dips mildly mildly today but stays in established range. Outlook is unchanged. On the downside, below 0.8543 will target a test on 0.8502 low. Decisive break there will resume larger decline from 0.8977. On the upside firm break of 0.8717 resistance will suggest larger reversal and target 0.8874 resistance next.

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). Firm break of 0.8717 support turned resistance will argue that it has completed with three waves down to 0.8502. Further break of 0.8977 will bring retest of 0.9267 high. Nevertheless, rejection by 0.8717, followed by break of 0.8502 will resume the decline towards 0.8201 (2022 low).

Daily Pivots: (S1) 0.8312; (P) 0.8345; (R1) 0.8364; More…

Intraday bias in EUR/GBP is back on the downside as recent down trend is resuming. Further fall would be seen to 0.8276 key long term support. On the upside, however, break of 0.8377 resistance will now indicate short term bottoming, and bias back to the upside for stronger rebound.

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) 0.8438; (P) 0.8458; (R1) 0.8482; More…

Intraday bias in EUR/GBP remains neutral first. Outlook is unchanged that corrective rise from 0.8276 should have completed at 0.8595, after rejection by 55 day EMA. Break of 0.8386 will target a test on 0.8276 low. Nevertheless, break of 0.8487 would turn bias to the upside for 0.8595 to extend the corrective rise from 0.8276.

In the bigger picture, decline from 0.9324 medium term top is till in progress. As long as 0.8786 support turned resistance 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 turn focus back to this high.

Daily Pivots: (S1) 0.8528; (P) 0.8561; (R1) 0.8577; More…

With break of 0.8543 support, intraday bias in EUR/GBP is back on the downside for retesting 0.8502 low. Decisive break there will resume larger decline from 0.8977. On the upside, above 0.8592 minor resistance will mix up the outlook and extend sideway trading.

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). Firm break of 0.8717 support turned resistance will argue that it has completed with three waves down to 0.8502. Further break of 0.8977 will bring retest of 0.9267 high. Nevertheless, rejection by 0.8717, followed by break of 0.8502 will resume the decline towards 0.8201 (2022 low).

Daily Pivots: (S1) 0.8576; (P) 0.8593; (R1) 0.8621; More…

Intraday bias in EUR/GBP is back on the upside as rebound from 0.8491 resumed. While further rally could be seen, near term outlook will stay bearish with 0.8667 resistance intact. On the downside, below 0.8559 minors support will turn bias to the downside for retesting 0.8491 low first. Firm break there will resume larger down trend.

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). Further decline is in favor as long as 0.8667 resistance holds. Break of 0.8502 will resume the fall towards 0.8201 (2022 low).

Daily Pivots: (S1) 0.8483; (P) 0.8514; (R1) 0.8535; More…

EUR/GBP is staying in range of 0.8451/8591 and intraday bias remains neutral. On the downside, below 0.8451 will bring retest of 0.8276 low. On the upside, break of 0.8591 will extend the rebound form 0.8276 to 38.2% retracement of 0.9324 to 0.8276 at 0.8676.

In the bigger picture, rise from 0.6935 (2015 low) should have completed at 0.9324 already. As long as 0.8786 support turned resistance holds, further decline is expected. Next target is 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 turn focus back to this high.