Daily Pivots: (S1) 0.8742; (P) 0.8769; (R1) 0.8794; More…

EUR/GBP’s break of 0.8821 confirms resumption of rise from 0.8617. Intraday bias is back on the upside for 61.8% retracement of 0.9101 to 0.8617 at 0.8916. Break will pave the way back to 0.9101 key resistance. On the downside, break of 0.8743 support is needed to indicate completion of the rebound. Otherwise, near term outlook will stay cautiously bullish in case of retreat.

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.

Daily Pivots: (S1) 0.9070; (P) 0.9112; (R1) 0.9139; More…

EUR/GBP is still engaging in consolidative trading and intraday bias remains neutral first. Overall, choppy rise from 0.8670 is in favor to continue as long as 0.8861 support holds. On the upside, decisive break of 0.9291 will target 0.9499 high.

In the bigger picture, at this point, 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).

EUR/GBP’s fall resumes by breaking 0.8577 last week. Initial bias is back on the downside this week. Fall from 0.9267 should target 0.8201/8388 support zone. For now, near term outlook will remain bearish as long as 0.8779 resistance holds, in case of recovery.

In the bigger picture, current development suggests that fall from 0.9267 is a down leg inside long term range pattern. Deeper fall could be seen towards 0.8201/8338 support zone. But strong support should be seen there to bring reversal.

In the long term picture, long term range pattern is extending. But rise from 0.6935 (2015 low) is expected to extend at a later stage, to 0.9799 (2009 high).

Daily Pivots: (S1) 0.8570; (P) 0.8603; (R1) 0.8638; More…

EUR/GBP is losing some downside momentum but further decline is still in favor with 0.8674 resistance intact. Current fall from 0.9267 should target 61.8% projection of 0.9267 to 0.8647 from 0.8827 at 0.8444 next. On the upside, above 0.8674 minor resistance will indicate short term bottoming, and bring stronger rebound back to 0.8827 instead.

In the bigger picture, current development suggests that fall from 0.9267 is a down leg inside long term range pattern. Deeper fall could be seen towards 0.8201/8338 support zone. But strong support should be seen there to bring reversal. Nevertheless, firm break of 0.8827 resistance will turn favor to the case that such decline is merely a correction in the up trend from 0.8201. That is, further rally would be seen at a later stage through 0.9267.

Daily Pivots: (S1) 0.8846; (P) 0.8869; (R1) 0.8908; More…

EUR/GBP is staying in consolidation from 0.8902 and intraday bias remains neutral. In case of deeper retreat, downside should be contained well above 0.8681 resistance turned support to bring rise resumption. On the upside, break of 0.8902 will turn bias back to the upside and target 0.9101 key resistance next.

In the bigger picture, medium term decline from 0.9305 (2017 high) is seen as a corrective move. No change in this view. Current development argues that it might have completed with three waves down to 0.8472, just ahead of 38.2% retracement of 0.6935 (2015 low) to 0.9306 at 0.8400, after hitting 55 month EMA (now at 0.8526). Decisive break of 0.9101 resistance will confirm this bullish case. Nevertheless, as EUR/GBP is still staying inside long term falling channel, correction from 0.9305 could still extend to 0.8400 fibonacci level before completion.

Daily Pivots: (S1) 0.9219; (P) 0.9248; (R1) 0.9266; More…

Break of 0.9198 support suggests short term topping at 0.9324, on bearish divergence condition in 4 hour MACD. Intraday bias is back on the downside for pull back to 55 day EMA (now at 0.9019). But strong support should be seen in 0.8891/9051 support zone to bring rise resumption. Break of 0.9324 will resume larger up trend.

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 0.8891 support holds, in case of deep pull back.

Daily Pivots: (S1) 0.8959; (P) 0.9007; (R1) 0.9057; More…

Much volatility is seen in EUR/GBP after the cross hit 0.9051. Intraday bias is turned neutral first. And, after all, it’s staying inside near term rising channel. Thus, outlook stay bullish for another rise. On the upside, above 0.9051 will target 0.9097 first. Break will resume the rally from 0.8620. However, break of 0.8937 support should have near term channel support firmly taken out. And that will indicate completion of rise from 0.8620 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) 0.8553; (P) 0.8572; (R1) 0.8587; More…

Intraday bias in EUR/GBP remains neutral at this point, and 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, above 0.8618 minor resistance will turn bias back to the upside for 0.8700, and possibly further to 0.8717 key support turned resistance.

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) 0.8769; (P) 0.8793; (R1) 0.8819; More…

Rebound from 0.8686 is still in progress and further rise could be seen. But after all, near term outlook stays bearish as long as 0.8928 resistance holds and another fall is expected. Firm break of 0.8686 support will resume whole decline from 0.9305. As 61.8% retracement of 0.8312 to 0.9305 should then be taken out too. Deeper decline would be seen to retest 0.8303/8312 support zone.

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) 0.8655; (P) 0.8683; (R1) 0.8702; More…

Outlook in EUR/GBP is unchanged and intraday bias stays neutral first. 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) 0.8859; (P) 0.8884; (R1) 0.8900; More…

EUR/GBP’s decline from 0.9097 extends lower even though down side momentum is a bit unconvincing. As long as 0.8935 resistance holds, deeper fall is expected to 61.8% retracement of 0.8620 to 0.9097 at 0.8802. But downside could be contained there and bring rebound. On the upside, break of 0.8935 resistance will indicate short term bottoming and bring stronger rebound.

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) 0.8799; (P) 0.8816; (R1) 0.8834; More…

Intraday bias in EUR/GBP remains neutral for consolidation below 0.8850 temporary top. Deeper retreat could be seen through 4 hour 55 EMA (now at 0.8790). But downside should be contained above 0.8681 resistance turned support to bring rebound. On the upside, break of 0.8850 and sustained trading above 0.8840 resistance will pave the way to 0.9101 key resistance next.

In the bigger picture, medium term decline from 0.9305 (2017 high) is seen as a corrective move. No change in this view. Current development argues that it might have completed with three waves down to 0.8472, just ahead of 38.2% retracement of 0.6935 (2015 low) to 0.9306 at 0.8400, after hitting 55 month EMA (now at 0.8511). Decisive break of 0.9101 resistance will confirm this bullish case. Nevertheless, as EUR/GBP is still staying inside long term falling channel, correction from 0.9305 could still extend to 0.8400 fibonacci level before completion.

Daily Pivots: (S1) 0.8881; (P) 0.8905; (R1) 0.8924; More…

Intraday bias in EUR/GBP remains neutral with focus on 0.8939 resistance. On the upside, firm break of 0.8939 resistance will confirm completion of the fall from 0.9098 and turn outlook bullish for this resistance. On the downside, below 0.8810 will turn bias to the downside for 0.8655 low instead.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Sustained break of 0.8939 resistance will confirm that it’s in a medium term rising leg for 0.9098 and above. And for now, in case of another fall, downside will likely be contained by 0.8620/55 support zone to bring rebound.

Daily Pivots: (S1) 0.8472; (P) 0.8531; (R1) 0.8564; More…

EUR/GBP recovers mildly today but with 0.8568 minor resistance intact, intraday bias stays on the downside. Current development suggests that consolidation from 0.8472 has completed with three waves to 0.8681, after failing to sustain above 55 day EMA. Break of 0.8472 low will resume fall from 0.9101 and target 61.8% projection of 0.9101 to 0.8472 from 0.8681 at 0.8292 next. On the upside, above 0.8568 minor resistance will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, medium term decline from 0.9306 (2017 high) is seen as a corrective move. Current development suggests that it’s extending through 0.8312 support towards 50% retracement of 0.6935 (2015 low) to 0.9306 at 0.8121. We’ll look for strong support around there to contain downside to complete the correction. But for now, break of 0.8681 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

Daily Pivots: (S1) 0.8563; (P) 0.8600; (R1) 0.8643; More…

EUR/GBP’s consolidation from 0.8474 is still in progress and intraday bias remains neutral at this point. Overall, as long as 0.7822 resistance holds, near term outlook remains bearish. On the downside, firm break of 0.8474 will resume larger down trend for 0.8416 long term projection next. On the upside, though, sustained break of 0.8722 will suggest near term reversal and bring stronger rise back to 0.8840 resistance and above.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Current fall from 0.9305 (2017 high) is a falling leg inside the pattern. Such decline could extend to 100% projection of 0.9305 to 0.8620 from 0.9101 at 0.8416 and possibly below. But for now, we’d expect strong support around 0.8312 support to contain downside and bring rebound.

Daily Pivots: (S1) 0.8766; (P) 0.8802; (R1) 0.8829; More…

EUR/GBP failed to break through 0.8844 and retreated. Break of 0.8776 minor support turned intraday bias neutral again. For now, another rise is expected as long as 0.8693 support holds. Break of 0.8844 will resume the rebound from 0.8620 for 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). However, break of 0.8693 will bring deeper fall back to retest 0.8620 low.

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.

Daily Pivots: (S1) 0.8898; (P) 0.8935; (R1) 0.8980; More…

EUR/GBP’s rally from 0.8655 is in progress and intraday bias remains on the upside. Fall from 0.9098 should have completed at 0.8655 and further rise should be seen to this resistance first. Sustained break will target 0.9304 key resistance next. On the downside, break of 0.8876 minor support will mix up near term outlook and turn intraday bias neutral first.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Sustained break of 0.8939 resistance will confirm that it’s in a medium term rising leg for 0.9098 and above. And for now, in case of another fall, downside will likely be contained by 0.8620/55 support zone to bring rebound.

Daily Pivots: (S1) 0.8539; (P) 0.8561; (R1) 0.8583; More…

EUR/GBP’s consolidation pattern from 0.8472 is possibly extending with another rising leg for now. While further recovery cannot be ruled out, upside should be limited below 0.8681 resistance. On the downside, decisive break of 0.8472 will confirm resumption of down trend from 0.9101 and target 61.8% projection of 0.9101 to 0.8472 from 0.8681 at 0.8292 next.

In the bigger picture, medium term decline from 0.9306 (2017 high) is seen as a corrective move. Current development suggests that it’s extending through 0.8312 support towards 50% retracement of 0.6935 (2015 low) to 0.9306 at 0.8121. We’ll look for strong support around there to contain downside to complete the correction. But for now, break of 0.8681 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

Daily Pivots: (S1) 0.8615; (P) 0.8636; (R1) 0.8660; More…

Intraday bias in EUR/GBP remains on the upside as rise form 0.8448 is in progress for 0.8668 key structural resistance. Sustained break there will be a strong sign of larger bullish reversal. Next target will be 161.8% projection of 0.8448 to 0.8612 from 0.8499 at 0.8764. On the downside, break of 0.8499 support is needed to confirm completion of the rebound. Otherwise, further rise will remain mildly in favor 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 0.8668 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.

Daily Pivots: (S1) 0.8304; (P) 0.8343; (R1) 0.8376; More…

Intraday bias in EUR/GBP is back on the downside as fall from 0.8476 resumes. Deeper decline could be seen to 0.8282 low. Sustained break of 0.8276 key long term support will carry larger bearish implication. On the upside, above 0.8381 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). 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.