Daily Pivots: (S1) 0.8963; (P) 0.9009; (R1) 0.9038; More…

Further rise is expected in EUR/GBP with 0.8880 support intact. Current rebound from 0.8670 should target 61.8% retracement of 0.9499 to 0.8670 at 0.9182 first. Sustained break there will pave the way to retest 0.9499 high. On the downside, though, break of 0.8880 support will turn bias back to the downside for 0.8670 low instead.

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.

Daily Pivots: (S1) 0.8557; (P) 0.8603; (R1) 0.8654; More…

Intraday bias in EUR/GBP remains neutral at this point as it’s staying in range of 0.8474/8722. Near term outlook remains bearish as long as 0.8722 resistance holds. On the downside, break of 0.8474 will resume larger down trend for 0.8416 long term projection next. On the upside, though, break of 0.8722 will resume the rebound from 0.8474 to 0.8840 resistance first.

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) 0.9023; (P) 0.9047; (R1) 0.9089; More…

A temporary top is in place at 0.9086 with today’s deep retreat. Intraday bias in EUR/GBP is turned neutral first. As long as 0.8931 resistance turned support holds, another rally is still in favor. On the upside, decisive break of 0.9098 resistance will extend the rise from 0.8655 to 0.9304 key resistance next. However, considering bearish divergence condition in 4 hour MACD, firm break of 0.8931 will indicate near term reversal and target 0.8810 support and below.

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) 0.8777; (P) 0.8820; (R1) 0.8857; More…

A short term top should be in place at 0.8876. Intraday bias is back on the downside for deeper retreat. Nevertheless, as long as 55 day EMA (now at 0.8711) holds, rise from 0.8545 is still in favor to continue. Above 0.8876 will resume the rally and target 61.8% retracement of 0.9276 to 0.8545 at 0.8997 and possibly above.

In the bigger picture, fall from 0.9267 is seen as 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) 0.9042; (P) 0.9064; (R1) 0.9099; More…

EUR/GBP rebound strongly today but stays below 0.9229/9291 resistance zone. Intraday bias remains neutral first. Overall, choppy rise form 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).

Daily Pivots: (S1) 0.8600; (P) 0.8643; (R1) 0.8707; More…

EUR/GBP dipped to 0.8577 but quickly recovered. Intraday bias stays neutral at this point. Further decline is expected with 0.8869 resistance intact. On the downside, break of 0.8577 will resume the fall from 0.9267, and target 61.8% projection of 0.9267 to 0.8647 from 0.8869 at 0.8486.

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.

Daily Pivots: (S1) 0.8487; (P) 0.8513; (R1) 0.8550; More…

Intraday bias in EUR/GBP stays neutral for the moment. On the upside break of 0.8552 resistance will suggest that pull back from 0.8720 has completed. That will also also revive near term bullishness. Further rise should be seen to retest 0.8720 high. On the downside, break of 0.8401 will reaffirm rejection by 0.8697 medium term fibonacci level and target 0.8201/48 support zone next.

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) 0.9100; (P) 0.9124; (R1) 0.9148; More…

Intraday bias stays neutral and EUR/GBP could extend the consolidation form 0.9175. 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) 0.8498; (P) 0.8541; (R1) 0.8566; More…

EUR/GBP’s decline resumed by breaking through 0.8521 and hits as low as 0.8498 so far. Intraday bias is back on the downside for 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481 and then 0.8472 key support. We’d look for strong support from there to contain downside to bring rebound. On the upside, break of 0.8605 resistance will indicate short term bottoming and bring stronger rebound back to 0.8786 support turned resistance.

In the bigger picture, we’re seeing 0.9324 as a medium term top on bearish divergence condition in weekly MACD. Price actions from there should develop into a corrective pattern. Deeper fall should be seen back to 38.2% retracement of 0.6935 to 0.9324 at 0.8411 but strong support should be seen there, at least on first attempt, to bring rebound. On the upside, break of 0.9324 is needed to confirm up trend resumption. Otherwise, risk will stay on the downside even in case of strong rebound.

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) 0.8334; (P) 0.8344; (R1) 0.8360; More…

Intraday bias in EUR/GBP is turned neutral for consolidation above 0.8322 temporary low. In any case, outlook will stay bearish as long as 0.8417 resistance holds. Below 0.8322 will resume recent down trend to 0.8276 key long term support. On the upside, above 0.8417 will turn 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) 0.9015; (P) 0.9036; (R1) 0.9062; More

A temporary top is in place at 0.9087 in EUR/GBP and intraday bias is turned neutral first. Further rise is still expected as long as 0.8890 support holds. Above 0.9087 will extend the rebound from 0.8312 to 0.9304 key high. At this point, there is no clear sign of up trend resumption yet. Hence, we’ll be cautious on strong resistance from 0.9304 to limit upside and bring another fall. On the downside, break of 0.8890 will be the first indication of near term reversal. In such case, intraday bias will be turned back to the downside for 0.8742 support for confirmation.

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.

Daily Pivots: (S1) 0.9214; (P) 0.9253; (R1) 0.9296; More…

EUR/GBP lost upside momentum after hitting 0.9291 and intraday bias is turned neutral for some consolidations. Downside should be contained above 0.9067 minor support to bring another rally. On the upside, break of 0.9291 will resume the whole rise from 0.8670. Next target is 100% projection of 0.8670 to 0.9175 from 0.8866 at 0.9371 first.

In the bigger picture, at this point, we’re still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 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).

Daily Pivots: (S1) 0.8833; (P) 0.8868; (R1) 0.8899; More…

Intraday bias in EUR/GBP remains on the downside at this point. Sustained trading below 0.8861 support will confirm that corrective rebound form 0.8670 has completed. Fall from 0.9929 is seen as the third leg of the pattern from 0.9499. Deeper decline would be seen back to 0.8670 support. On the upside, though, break of 0.8923 minor resistance will dampen this bearish case and turn bias back to the upside for rebound first.

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).

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) 0.8740; (P) 0.8822; (R1) 0.8872; More

Intraday bias in EUR/GBP remains on the downside for 61.8% retracement of 0.8312 to 0.9305 at 0.8691 and below. Fall from 0.9305 is seen as the third leg of the consolidation pattern from 0.9304. We’ll look for bottoming signal again at it approaches 0.8303 support. On the upside, above 0.8865 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.

Daily Pivots: (S1) 0.8812; (P) 0.9031; (R1) 0.9205; More…

Intraday bias in EUR/GBP remains neutral at this point. Further rally is expected as long as 0.8720 resistance turned support holds. Above 0.9267 will target 0.9499 long term resistance. However, break of 0.8270 support will mix up the near term outlook.

In the bigger picture, rise from 0.8201 is in progress targeting 0.9499 (2020 high) next. Based on current momentum, such rally should be resuming the up trend from 0.6935 (2015 low). Firm break of 0.9499 will target 61.8% projection of 0.6935 to 0.9499 from 0.8201 at 0.9786, which is close to 0.9799 (2008 high). This will now remain the favored case as long as 0.8720 resistance turned support holds.

EUR/GBP fell to 0.8585 last week but turned sideway since then. Initial bias stays neutral this week and more consolidations could be seen. But further decline is expected as long as 0.8638 minor resistance holds. On the downside, below 0.8585 will resume the fall from 0.8713 to 0.8548 support. Firm break there will target 0.8491 low next.

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 0.8764 resistance holds. Break of 0.8491 will target 61.8% projection of 0.8977 to 0.8491 from 0.8764 at 0.8464.

In the long term picture, price action from 0.9499 (2020 high) is seen as part of the long term range pattern from 0.9799 (2008 high). Fall from 0.9267 is the third leg of the pattern from 0.9499. Break of 0.8201 (2022 low) will target 100% projection of 0.9499 to 0.8201 from 0.9267 at 0.7969.

Daily Pivots: (S1) 0.8688; (P) 0.8732; (R1) 0.8773; More…

Intraday bias in EUR/GBP is turned neutral with current recovery, but deeper decline is in favor with 0.8848 minor resistance intact. Rise from 0.8201 could have completed at 0.9267 in three-wave corrective pattern. Sustained break of 55 day EMA (now at 0.86426) will target 0.8201/8338 support zone. On the upside, above 0.8848 minor resistance will turn bias back to the upside for recovery instead.

In the bigger picture, as long as 0.8720 resistance turned support holds, rise from 0.8201 is seen as resuming larger up trend from 0.6935 (2015 low). Break of 0.9499 (2020 high) should be seen at a later stage. However, firm break of 0.8720 will argue that sideway pattern from 0.9499 is extending with another falling leg instead.

Daily Pivots: (S1) 0.8683; (P) 0.8709; (R1) 0.8750; More…

Intraday bias in EUR/GBP remains on the upside at this point. Consolidation pattern from 0.8472 is extending with another rising leg. Further rise could be seen to 0.8840 resistance. On the downside, break of 0.8648 minor support will turn bias back to the downside for 0.8472 low instead.

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.