Daily Pivots: (S1) 0.8543; (P) 0.8649; (R1) 0.8759; More…

A temporary top is formed at 0.8591 in EUR/GBP and intraday bias is turned neutral first. Further rise is still in favor as long as 0.8476 minor support holds. Above 0.8591 will target 38.2% retracement of 0.9324 to 0.8276 at 0.8676. On the downside, break of 0.8476 minor support will turn bias to the downside for retesting 0.8276 low instead.

In the bigger picture, fall from 0.9324 medium term top is still in progress. 38.2% retracement of 0.6935 to 0.9324 at 0.8411 was firmly taken out. Further decline should now be seen to 61.8% retracement at 0.7848 next. 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) 0.8540; (P) 0.8572; (R1) 0.8588; More…

Intraday bias in EUR/GBP remains neutral as range trading continues. Rejection by 55 D EMA (now at 0.8646) is keeping near term outlook bearish. Break of 0.8517 will resume the whole decline from 0.8977. On the upside, above 0.8657 resistance will resume the rebound from 0.8517 towards 0.8717 support turned resistance.

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 0.8717 support turned resistance holds.

Daily Pivots: (S1) 0.8811; (P) 0.8835; (R1) 0.8869; More…

Intraday bias in EUR/GBP remains neutral at this point. With 0.8796 minor support intact, further rise is expected in the cross. On the upside, break of 0.8890 will resume the rebound from 0.8620 and target 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). However, break of 0.8796 will be the first sign that whole rebound from 0.8620 is completed. That will bring deeper fall to 0.8724 support for confirmation.

In the bigger picture, EUR/GBP is staying in 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) 0.8512; (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.

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) 0.8408; (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) 0.8259; (P) 0.8355; (R1) 0.8433; More…

Intraday bias in EUR/GBP remains neutral for consolidation above 0.8276 temporary low first. Upside of recovery should be limited by 0.8508 resistance to bring fall resumption. On the downside, below 0.8276 will resume the decline from 0.9324 and target 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8149 next.

In the bigger picture, fall from 0.9324 medium term top is still in progress. 38.2% retracement of 0.6935 to 0.9324 at 0.8411 was firmly taken out. Further decline should now be seen to 61.8% retracement at 0.7848 next. 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) 0.8738; (P) 0.8759; (R1) 0.8779; More…

No change in EUR/GBP’s mixed outlook is it’s still bounded in range of 0.8712/8844. Intraday bias remains neutral for the moment. . On the downside, break of 0.8679 support should confirm completion of the rebound form 0.8620. And intraday bias will be turned back to the downside for this support. Whole decline from 0.9305 will likely be resuming too. On the upside, above 0.8844 will resume the rebound from 0.8620 and target 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963).

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.

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) 0.8830; (P) 0.8853; (R1) 0.8865; More…

Intraday bias in EUR/GBP is turned neutral again at it retreated after edging higher to 0.8874. Further rally will remain in favor as long as 0.8790 support holds. Choppy decline from 0.8977 could have completed already. Above 0.8874 will target 0.8924 resistance first. Firm break there will target 0.8977 high next.

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) 0.8806; (P) 0.8828; (R1) 0.8856; More…

EUR/GBP’s corrective rise from 0.8722 is still in progress and could extend to 38.2% retracement of 0.9097 to 0.8722 at 0.8865. Break will pave the way to 61.8% retracement at 0.8954 and above. On the downside, however, break of 0.8798 minor support will turn bias back to the downside for 0.8722 and possibly below.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Current development suggests that fall from 0.9303, as a down leg in the pattern, is still in progress. But in case of deeper fall, downside should be contained by 0.8116 cluster support, 50% retracement of 0.6935 (2015 low) to 0.9304 at 0.8120, to bring rebound. On the upside, break of 0.9097 will target 0.9304 resistance instead.

Daily Pivots: (S1) 0.8635; (P) 0.8663; (R1) 0.8679; More…

Intraday bias in EUR/GBP remains neutral at this point and outlook is unchanged. On the upside, break of 0.8718 will resume the rise from 0.8470 to 38.2% retracement of 0.9291 to 0.8470 at 0.8784. On the downside, however, break of 0.8587 will turn bias back to the downside for retesting 0.8470 low.

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) 0.8438; (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) 0.8314; (P) 0.8338; (R1) 0.8367; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the downside, break of 0.8294 will argue that rebound from 0.8201 has completed at 0.8511, and revive near term bearishness. Intraday bias will be back on the downside for retesting 0.8201 low. On the upside, however, break of 0.8511 will reaffirm that 0.8201 is a medium term bottom, and target 0.8697 medium term fibonacci level next.

In the bigger picture, a medium term bottom should 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. This will remain the favored case as long as 0.8294 support holds.

Daily Pivots: (S1) 0.8850; (P) 0.8871; (R1) 0.8897; More…

EUR/GBP continues to lose downside momentum as seen in 4 hour MACD. But with 0.8935 minor resistance intact, deeper decline is still expected. However, downside should be contained by 61.8% retracement of 0.8620 to 0.9097 at 0.8802 to form a short term bottom and bring rebound. On the upside, break of 0.8935 resistance will indicate short term bottoming and bring stronger rebound back towards 0.9051 resistance.

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.

EUR/GBP edged lower to 0.8498 last week but recovered since then. Initial bias remains neutral this week first. On the downside, break of 0.8498 support will resume the choppy corrective fall from 0.8718 towards 0.8470 low. On the upside, break of 0.8555 minor resistance will turn bias back to the upside for 0.8668 resistance instead.

In the bigger picture, price actions from 0.9499 are still seen as developing into a corrective pattern. Deeper fall could be seen as long as 0.8718 resistance holds. However, firm break of 0.8717 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) 0.8877; (P) 0.8918; (R1) 0.8942; More…

EUR/GBP drops to as low as 0.8889 so far and intraday bias stays on the downside. As noted before, corrective rise from 0.8620 could have completed at 0.9097 already. Break of 38.2% retracement of 0.8620 to 0.9097 at 0.8915 affirms our bearish view. Deeper decline should now be seen to 61.8% retracement at 0.8802 and below. On the upside, above 0.8956 minor resistance will turn intraday bias neutral first. But outlook will remain cautiously bearish as long as 0.9051 resistance holds.

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) 0.9041; (P) 0.9075; (R1) 0.9124; More…

Outlook in EUR/GBP remains unchanged. Fall from 0.9324 is seen as a corrective move. Break of 0.9157 will suggest that such correction is completed. Intraday bias will be turned back to the upside for 0.9324 resistance first. In case of another decline, downside should be contained by 0.8891/9051 support zone to bring rebound.

In the bigger picture, up trend from 0.6935 (2015 low) should be resuming. Sustained break of 0.9305 will confirm and 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 0.8891 support holds, in case of deep pull back. However, sustained break of 0.8891 will dampen this bullish view and focus would be back on 0.8472 key support.

EUR/GBP’s rally extended to as high as 0.9317 last week and breached 0.9305 key resistance. Larger up trend is likely resuming. Initial bias stays on the upside this week. Next near term target is 100% projection of 0.8489 to 0.9051 from 0.8891 at 0.9453. On the downside, though, break of 0.9198 minor support will indicate short term topping and bring lengthier consolidations first.

In the bigger picture, up trend from 0.6935 (2015 low) should be resuming. Sustained break of 0.9305 will confirm and target t 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, in case of deep pull back.

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 0.8472 support holds, further rise should be seen through 0.9305 to 0.9799 and above down the road.