EUR/GBP surged to as high as 0.9499 last week, then formed a short term top there and retreated. Initial bias is neutral this week for some more consolidations first. In case of deeper pull back, downside should be contained by 61.8% retracement of 0.8282 to 0.9499 at 0.8747 to bring rally resumption. On the upside, break of 0.9499 will resume larger up trend.

In the bigger picture, the break of 0.9324 (2016 high) confirms resumption of up trend from 0.6935 (2015 low). 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). But in any case, medium term outlook will stay bullish as long as 0.8276 support holds, even in case of deep pull back.

In the long term picture, rise form 0.6935 (2015 low) is still in progress. It could be resuming long term up trend from 0.5680 (2000 low). Decisive break of 0.9799 will target 100% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

Daily Pivots: (S1) 0.9101; (P) 0.9301; (R1) 0.9479; More…

A temporary top is formed at 0.9499 in EUR/GBP with current retreat. Intraday bias in turned neutral for some consolidations first. Further rise is expected with 0.9068 support holds. Break of 0.9499 will resume larger up trend for 0.9715 projection level. Nevertheless, break of 0.9068 will turn near term outlook neutral and bring more consolidations.

In the bigger picture, the strong break of 0.9324 (2016 high) confirms resumption of up trend from 0.6935 (2015 low). 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). But 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) 0.9080; (P) 0.9105; (R1) 0.9141; More…

EUR/GBP’s rally accelerated further to as high as 0.9799 so far. The strong break of 0.9324 high confirms larger up trend resumption. Intraday bias remains on the upside for 0.9715. On the downside, break of 0.9068 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, the strong break of 0.9324 (2016 high) confirms resumption of up trend from 0.6935 (2015 low). 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). But 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) 0.9076; (P) 0.9109; (R1) 0.9151; More…

EUR/GBP is losing upside momentum as seen in 4 hour MACD but further rise is still in favor. Rise from 0.8276 should target a test on 0.9324 high. On the downside, break of 0.8842 is needed to indicate short term topping. Otherwise, outlook will stay cautiously bullish in case of retreat.

In the bigger picture, there are various interpretations in medium term price actions from 0.9263 (2016 high). We’re currently favoring the case that it’s a consolidation pattern with fall from 0.9324 to 0.8276 as the third leg, due to the strong impulsive rally from 0.8276. Decisive break of 0.9324 will confirm resumption of whole up trend from 0.6935, for 0.9799 (2008 high). This will remain the favored case as long as 0.8276 support holds.

Daily Pivots: (S1) 0.9016; (P) 0.9083; (R1) 0.9181; More…

EUR/GBP’s rally is still in progress and intraday bias remains on the upside. Rise from 0.8276 should target a test on 0.9324 high. On the downside, break of 0.8842 is needed to indicate short term topping. Otherwise, outlook will stay cautiously bullish in case of retreat.

In the bigger picture, there are various interpretations in medium term price actions from 0.9263 (2016 high). We’re currently favoring the case that it’s a consolidation pattern with fall from 0.9324 to 0.8276 as the third leg, due to the strong impulsive rally from 0.8276. Decisive break of 0.9324 will confirm resumption of whole up trend from 0.6935, for 0.9799 (2008 high). This will remain the favored case as long as 0.8276 support holds.

Daily Pivots: (S1) 0.8805; (P) 0.8860; (R1) 0.8944; More…

Intraday bias in EUR/GBP remains on the upside at this point. Rise from 0.8276 should target a test on 0.9324 high. On the downside, break of 0.8842 minor support will turn intraday bias neutral to bring consolidations first.

In the bigger picture, there are various interpretations in medium term price actions from 0.9263 (2016 high). We’re currently favoring the case that it’s a consolidation pattern with fall from 0.9324 to 0.8276 as the third leg, due to the strong impulsive rally from 0.8276. Decisive break of 0.9324 will confirm resumption of whole up trend from 0.6935, for 0.9799 (2008 high). This will remain the favored case as long as 0.8276 support holds.

EUR/GBP surged to as high as 0.9048 last week. The development indicates that whole decline from 0.9324 has completed at 0.8276 already. Initial bias stays on the upside this week for retesting 0.9324 high. On the downside, break of 0.8842 minor support will turn intraday bias neutral to bring consolidations first.

In the bigger picture, there are various interpretations in medium term price actions from 0.9263 (2016 high). We’re currently favoring the case that it’s a consolidation pattern with fall from 0.9324 to 0.8276 as the third leg, due to the strong impulsive rally from 0.8276. Decisive break of 0.9324 will confirm resumption of whole up trend from 0.6935, for 0.9799 (2008 high). This will remain the favored case as long as 0.8276 support holds.

In the long term picture, current development suggests that up trend form 0.6935 is still in progress. It would be the third leg of the whole up trend from 0.5680 (2000 low). Decisive break of 0.9263 should indicate resumption of such long term up trend.

Daily Pivots: (S1) 0.8805; (P) 0.8860; (R1) 0.8944; More…

EUR/GBP’s rally extends to as high as 0.8939 so far and there is no sign of topping yet. Intraday bias remains on the upside at this point. Current development suggests that whole decline form 0.9324 has completed. Sustained break of 61.8% retracement of 0.9324 to 0.8276 at 0.8924 will pave the way to retest 0.9324 high. For now, near term outlook will stay cautiously bullish as long as 0.8621 support holds, in case of retreat.

In the bigger picture, current development argues that fall from might merely be a correction to rise from 0.6935 (2015 low) to 0.9324. While more range trading could still be seen below 0.9324, an upside breakout is in favor. break of 0.9324 will target a test on 0.9799 (2008 high).

Daily Pivots: (S1) 0.8720; (P) 0.8783; (R1) 0.8851; More…

EUR/GBP’s break of 0.8786 support turned resistance now raises the chance that whole fall from 0.9324 has completed. Near term trend could have reversed. Intraday bias is now on the upside for 61.8% retracement of 0.9324 to 0.8276 at 0.8924. Sustained break there will pave the way to retest 0.9324 high. On the downside, break of 0.8621 support will dampen this bullish case and bring retest of 0.8276 low instead.

In the bigger picture, current development argues that fall from might merely be a correction to rise from 0.6935 (2015 low) to 0.9324. While more range trading could still be seen below 0.9324, an upside breakout is in favor. break of 0.9324 will target a test on 0.9799 (2008 high).

Daily Pivots: (S1) 0.8688; (P) 0.8735; (R1) 0.8788; More…

Despite spiking higher to 0.8847, EUR/GBP quickly retreated. Intraday bias is neutral first with focus on 0.8786 resistance. At this point, we’d still expect strong resistance from 0.8786 to complete the corrective rise from 0.8276. Break of 0.8621 support will turn bias back to the downside for retesting 0.8276 low. However, sustained break of 0.8786 will indicate near term bullishness for 61.8% retracement of 0.9324 to 0.8276 at 0.8924 next.

In the bigger picture, there are various interpretations on the price actions from 0.9324. It could be the third leg of the pattern from 0.9799 (2008 high). Or it could just be correcting the rise from 0.6935 (2015 low) to 0.9324. But in any case, as long as 0.8786 support turned resistance holds, further decline is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848 next. Firm break of 0.8786, however, will bring retest of 0.9324 high.

Daily Pivots: (S1) 0.8665; (P) 0.8717; (R1) 0.8778; More…

No change in EUR/GBP’s outlook as focus stays on 0.8786 resistance. At this point, we’re still viewing price actions from 0.8276 as a corrective pattern. Hence, in case of another rise, we’d expect strong resistance from 0.8786 resistance to limit upside. Break of 0.8594 support will turn bias back to the downside for retesting 0.8276 low. However, sustained break of 0.8786 will indicate near term bullishness for 61.8% retracement of 0.9324 to 0.8276 at 0.8924 next.

In the bigger picture, there are various interpretations on the price actions from 0.9324. It could be the third leg of the pattern from 0.9799 (2008 high). Or it could just be correcting the rise from 0.6935 (2015 low) to 0.9324. But in any case, as long as 0.8786 support turned resistance holds, further decline is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848 next. Firm break of 0.8786, however, will bring retest of 0.9324 high.

Daily Pivots: (S1) 0.8631; (P) 0.8674; (R1) 0.8699; More…

Focus remains on 0.8786 resistance in EUR/GBP. At this point, we’re still viewing price actions from 0.8276 as a corrective pattern. Hence, in case of another rise, we’d expect strong resistance from 0.8786 resistance to limit upside. Break of 0.8594 support will turn bias back to the downside for retesting 0.8276 low. However, sustained break of 0.8786 will indicate near term bullishness for 61.8% retracement of 0.9324 to 0.8276 at 0.8924 next.

In the bigger picture, there are various interpretations on the price actions from 0.9324. It could be the third leg of the pattern from 0.9799 (2008 high). Or it could just be correcting the rise from 0.6935 (2015 low) to 0.9324. But in any case, as long as 0.8786 support turned resistance holds, further decline is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848 next. Firm break of 0.8786, however, will bring retest of 0.9324 high.

EUR/GBP rose further to 0.8744 last week but retreated since then. Initial bias remains neutral this week first. At this point, we’re still viewing price actions from 0.8276 as a corrective pattern. Hence, in case of another rise, we’d expect strong resistance from 0.8786 resistance to limit upside. Break of 0.8594 support will turn bias back to the downside for retesting 0.8276 low. However, sustained break of 0.8786 will indicate near term bullishness for 61.8% retracement of 0.9324 to 0.8276 at 0.8924 next.

In the bigger picture, there are various interpretations on the price actions from 0.9324. It could be the third leg of the pattern from 0.9799 (2008 high). Or it could just be correcting the rise from 0.6935 (2015 low) to 0.9324. But in any case, as long as 0.8786 support turned resistance holds, further decline is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848 next. Firm break of 0.8786, however, will bring retest of 0.9324 high.

In the long term picture, fall from 0.9324 is currently seen as the third leg of the whole pattern from 0.9799 (2008 high). It’s a bit early to judge how deep the decline would extend to and whether 0.6935 would be taken out. We’ll pay attention to the structure of the fall from 0.9324 and corresponding downside momentum to made an assessment later.

Daily Pivots: (S1) 0.8637; (P) 0.8659; (R1) 0.8697; More…

Intraday bias in EUR/GBP remains neutral at this point. Price actions from 0.8726 are viewed as a consolidation pattern. Larger outlook remains bearish with 0.8786 resistance intact. On the downside, break of 0.8594 minor support will turn bias back to the downside for retesting 0.8276 low. However, sustained break of 0.8786 will indicate near term bullishness for 61.8% retracement of 0.9324 to 0.8276 at 0.8924 next.

In the bigger picture, there are various interpretations on the price actions from 0.9324. It could be the third leg of the pattern from 0.9799 (2008 high). Or it could just be correcting the rise from 0.6935 (2015 low) to 0.9324. But in any case, as long as 0.8786 support turned resistance holds, further decline is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848 next. Firm break of 0.8786, however, will bring retest of 0.9324 high.

Daily Pivots: (S1) 0.8619; (P) 0.8682; (R1) 0.8714; More…

A temporary top is formed at 0.8744 in EUR/GBP and intraday bias is turned neutral first. At this point, price actions from 0.8726 are viewed as a consolidation pattern. Larger outlook remains bearish with 0.8786 resistance intact. On the downside, break of 0.8594 minor support will turn bias back to the downside for retesting 0.8276 low. However, sustained break of 0.8786 will indicate near term bullishness for 61.8% retracement of 0.9324 to 0.8276 at 0.8924 next.

In the bigger picture, there are various interpretations on the price actions from 0.9324. It could be the third leg of the pattern from 0.9799 (2008 high). Or it could just be correcting the rise from 0.6935 (2015 low) to 0.9324. But in any case, as long as 0.8786 support turned resistance holds, further decline is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848 next. Firm break of 0.8786, however, will bring retest of 0.9324 high.

Daily Pivots: (S1) 0.8684; (P) 0.8714; (R1) 0.8746; More…

Further rise is expected in EUR/GBP with 0.8594 support intact. Current rise from 0.8282 should target 50% retracement of 0.9324 to 0.8276 at 0.8800. On the downside, below 0.8594 minor support will turn intraday bias neutral first.

In the bigger picture, decline from 0.9324 should have made a bottom at 0.8276. But price actions from there is seen as a corrective move for the moment. Upside should be limited by 0.8786 support turned resistance to bring decline resumption. Break of 0.8276 will target 61.8% retracement of 0.6935 to 0.9324 at 0.7848.

Daily Pivots: (S1) 0.8636; (P) 0.8689; (R1) 0.8783; More…

With 0.8594 minor support intact, intraday bias in EUR/GBP remains on the upside as rise from 0.8276 is in progress to 50% retracement of 0.9324 to 0.8276 at 0.8800. On the downside, below 0.8594 minor support will turn intraday bias neutral first.

In the bigger picture, decline from 0.9324 should have made a bottom at 0.8276. But price actions from there is seen as a corrective move for the moment. Upside should be limited by 0.8786 support turned resistance to bring decline resumption. Break of 0.8276 will target 61.8% retracement of 0.6935 to 0.9324 at 0.7848.

Daily Pivots: (S1) 0.8535; (P) 0.8589; (R1) 0.8655; More…

EUR/GBP’s rally extends further today and intraday bias remains on the upside. Sustained trading above 38.2% retracement of 0.9324 to 0.8276 at 0.8676 will pave the way to 50% retracement at 0.8800. On the downside, below 0.8574 minor support will turn intraday bias neutral first.

In the bigger picture, decline from 0.9324 should have made a bottom at 0.8276. But price actions from there is seen as a corrective move for the moment. Upside should be limited by 0.8786 support turned resistance to bring decline resumption. Break of 0.8276 will target 61.8% retracement of 0.6935 to 0.9324 at 0.7848.

EUR/GBP’s rebound from 0.8282 extended to as high as 0.8641 last week. Break of 0.8595 completes a double bottom pattern ( 0.8276, 0.8282). Initial bias remains on the upside this week for38.2% retracement of 0.9324 to 0.8276 at 0.8676. Break will target 50% retracement at 0.8800. On the downside, below 0.8521 minor support will turn intraday bias neutral first.

In the bigger picture, decline from 0.9324 should have made a bottom at 0.8276. But price actions from there is seen as a corrective move for the moment. Upside should be limited by 0.8786 support turned resistance to bring decline resumption. Break of 0.8276 will target 61.8% retracement of 0.6935 to 0.9324 at 0.7848.

In the long term picture, fall from 0.9324 is currently seen as the third leg of the whole pattern from 0.9799 (2008 high). It’s a bit early to judge how deep the decline would extend to and whether 0.6935 would be taken out. We’ll pay attention to the structure of the fall from 0.9324 and corresponding downside momentum to made an assessment later.

Daily Pivots: (S1) 0.8462; (P) 0.8503; (R1) 0.8575; More…

Intraday bias in EUR/GBP remains on the upside as rise from 0.8282 is in progress. Such rally is seen as the third leg of the consolidation pattern from 0.8276. Strong resistance should be seen from 0.8537/8595 resistance zone to limit upside. On the downside, break of 0.9415 support turned resistance will bring retest of 0.8276 low.

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 0.8595 will argue that fall from 0.9324 has completed and bring stronger rebound.