Daily Pivots: (S1) 0.8724; (P) 0.8759; (R1) 0.8792; More…

With 0.8711 minor support intact, further rise is expected in EUR/GBP. Break of 38.2% retracement of 0.9101 to 0.8617 at 0.8802 will target 61.8% retracement at 0.8916. On the downside, break of 0.8711 will turn bias 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.

Daily Pivots: (S1) 0.8779; (P) 0.8899; (R1) 0.8968; More…

EUR/GBP drops sharply to as low as 0.8719 and strong break of 0.8786 support indicates resumption of fall from 0.9324. Intraday bias stays on the downside and further fall should be seen to 0.8427 low. On the upside, above 0.8830 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 0.9019 resistance holds.

In the bigger picture, the failure to sustain above 0.9305 (2017 high) suggests that consolidation from there is extending. Breach of 0.8472 cannot be ruled out but downside should be contained by 38.2% retracement of 0.6935 (2015 low) to 0.9305 at 0.8400. On the upside, firm break of 0.9327 will confirm up trend resumption.

Daily Pivots: (S1) 0.8538; (P) 0.8554; (R1) 0.8575; More…

Intraday bias in EUR/GBP remains neutral as consolidation from 0.8474 is in progress. More sideway trading could be seen. But with With 0.8676 resistance intact, further decline is expected. Firm break of 0.8474 will resume larger down trend to 0.8416 long term projection next. However, on the upside, decisive break of 0.8676 will indicate short term reversal and bring further rise to 0.8840 resistance.

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 is now targeting 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) 0.8833; (P) 0.8853; (R1) 0.8870; More…

EUR/GBP continues to lose upside momentum as seen in 4 hour MACD. But further rise is in favor as long as 0.8792 support holds. Current rise from 0.8545 would target 61.8% retracement of 0.9276 to 0.8545 at 0.8997 and possibly above. However, break of 0.8792 will argue that the rebound might have completed, and turn bias back tot he downside.

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) 0.8431; (P) 0.8449; (R1) 0.8473; More…

Intraday bias in EUR/GBP remains neutral at this point. On the upside, break of 0.8491 resistance will resume the rebound from 0.8338. That would also argue that choppy decline from 0.8720 has completed. Bias will be back to the upside for 0.8585 resistance. On the downside, below 0.8386 should resume the fall from 0.8720 through 0.8338.

In the bigger picture, current development suggests rejection by 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Medium term bearishness is maintained. Break of 0.8201 will resume larger down trend from 0.9499 (2020 high). Nevertheless, sustained break of 0.8697 will affirm the case that rise from 0.8201 is a medium term up trend itself.

Daily Pivots: (S1) 0.8854; (P) 0.8866; (R1) 0.8886; More…

EUR/GBP is staying in consolidation from 0.8896 and intraday bias remains neutral first. Further rally is expected as long as 0.8768 support holds. On the upside, break of 0.8896 will resume the rally from 0.8545 to 61.8% projection of 0.8545 to 0.8876 from 0.8768 at 0.8973.

In the bigger picture, with 55 week EMA (now at 0.8616) intact, the favored case is that rise from 0.8545 is part of the whole up trend from 0.8201 (2022 low). Sustained trading above 61.8% retracement of 0.9276 to 0.8545 at 0.8997 will pave the way to retest 0.9267 high next. However, break of 0.8768 support will dampen this view and bring retest of 0.8545 low instead.

Daily Pivots: (S1) 0.8660; (P) 0.8702; (R1) 0.8748; More…

EUR/GBP dropped further to 0.8655 but recovered notably. Still, further decline is expected as long as 0.8773 minor resistance holds. Below 0.8665 will target 0.8620 support first. Break will target 100% projection of 0.9098 to 0.8722 from 0.8939 at 0.8563 next. However, break of 0.8773 minor resistance will turn focus back to 0.8939 resistance instead.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Medium term fall from 0.9305 is possibly in progress and could extend through 0.8620. On the upside, break of 0.8939 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain cautiously bearish even in case of rebound.

Daily Pivots: (S1) 0.8579; (P) 0.8597; (R1) 0.8618; More…

Focus stays on 0.8570 support in EUR/GBP. Firm break there will resume the fall from 0.9267 and target 61.8% projection of 0.9267 to 0.8570 from 0.8827 at 0.8369. On the upside, above 0.8634 minor resistance will turn bias back to the upside for recovery. But outlook will stay bearish as long as 0.8827 resistance holds.

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.

EUR/GBP dropped sharply to 0.8452 last week but quickly recovered. Initial bias remains neutral this week first. 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 0.8452 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.

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). However, sustained break of 0.8276 will indicate long term trend reversal, and target 61.8% retracement of 0.6935 to 0.9499 at 0.7917, and possibly below.

Daily Pivots: (S1) 0.8557; (P) 0.8598; (R1) 0.8632; More…

Sideway trading continues in EUR/GBP and intraday bias remains neutral. Further decline is expected with 0.8674 resistance intact. Break of 0.8545 will resume the fall from 0.9267, and 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) 0.8570; (P) 0.8593; (R1) 0.8615; More….

EUR/GBP is extending consolidation from 0.8548 and intraday bias remains neutral at this point. Further decline is expected as long as 0.8648 support turned resistance holds. On the downside, break of 0.8548 will resume the decline from 0.8764 to retest 0.8419 low next. However, sustained break of 0.8648 will turn bias to the upside for stronger rebound.

In the bigger picture, current development suggests that down trend from 0.9267 (2022 high) is still in progress. This decline is seen as the third leg of the pattern from 0.9499 (2020 high). Break of 0.8201 will target 100% projection of 0.9499 to 0.8201 from 0.9267 at 0.7969. In any case, outlook will stay bearish as long as 0.8764 resistance holds.

Daily Pivots: (S1) 0.8836; (P) 0.8862; (R1) 0.8890; More…

EUR/GBP’s break of 0.8824 minor support argues that rebound from 0.8655 might be completed at 0.8931, after being rejected by 0.8939 resistance. Intraday bias is turned back to the downside for retesting 0.8655. 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.

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) 0.8928; (P) 0.8946; (R1) 0.8977; More…

Intraday bias in EUR/GBP remains neutral at this point. With 0.8871 support intact, further rise is expected. On the upside, break of 0.8974 resistance will resume larger rally to 0.9101 key resistance next. However, considering bearish divergence condition in 4 hour MACD, break of 0.8871 will indicate short term topping. Deeper pull back could be seen to 55 day EMA (now at 0.8799).

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 0.8527). 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, if upside is rejected by 0.9101.

Daily Pivots: (S1) 0.8591; (P) 0.8628; (R1) 0.8646; More…

Intraday bias in EUR/GBP remains neutral for consolidation above 0.8575 temporary low. Another recovery could be seen but upside should be limited by 0.8811 minor resistance to bring decline resumption. On the downside, break of 0.8575 will target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 0.8472 key support.

In the bigger picture, we’re now 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) 0.8879; (P) 0.8891; (R1) 0.8908; More…

Intraday bias in EUR/GBP remains neutral for the moment. As long as 0.8815 support holds, price actions from 0.8957 are seen as a corrective pattern only. On the upside, decisive break of 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963) should confirm completion of whole decline from 0.9305. EUR/GBP should then target 61.8% retracement at 0.9043 next.

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) 0.8883; (P) 0.8908; (R1) 0.8951; More…

Intraday bias in EUR/GBP is turned neutral as it recovers just ahead of 0.8864 near term support. Further fall is expected with 0.8974 resistance intact. Firm break of 0.8864 should confirm completion of whole rebound from 0.8670 at 0.9175. Deeper decline would then be seen to retest 0.8670 support. Nevertheless strong rebound from currently level, followed by break of 0.8974 resistance, will turn bias back to the upside for 0.9148/75 resistance zone instead.

In the bigger picture, at this point, we’s 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.

Daily Pivots: (S1) 0.8405; (P) 0.8428; (R1) 0.8467; More…

Intraday bias in EUR/GBP is turned neutral first with current recovery. On the upside, break of 0.8491 resistance will resume the rebound from 0.8338. That would also argue that choppy decline from 0.8720 has completed. Bias will be back to the upside for 0.8585 resistance. On the downside, below 0.8386 should resume the fall from 0.8720 through 0.8338.

In the bigger picture, current development suggests rejection by 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Medium term bearishness is maintained. Break of 0.8201 will resume larger down trend from 0.9499 (2020 high). Nevertheless, sustained break of 0.8697 will affirm the case that rise from 0.8201 is a medium term up trend itself.

Daily Pivots: (S1) 0.8892; (P) 0.8934; (R1) 0.8958; More…

A temporary top is in place at 0.8974 with the current retreat. Intraday bias in EUR/GBP is turned neutral for some consolidations first. Further rise is expected as long as 0.8871 minor support holds. Above 0.8974 will target 0.9101 key resistance next. However, considering bearish divergence condition in 4 hour MACD, break of 0.8871 minor support will indicate short term topping and bring deeper pull back towards 55 day EMA (now at 0.8772).

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 0.8527). 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, if upside is rejected by 0.9101.

Daily Pivots: (S1) 0.9031; (P) 0.9041; (R1) 0.9053; More…

Consolidation continues in EUR/GBP and intraday bias remains neutral first. On the upside, break of 0.9175 will resume larger rise from 0.8670, towards 0.9499 high. However, break of 0.8930 support will also come with firm break of 55 day EMA. That would argue that rebound from 0.8670 has completed. In this case, intraday bias will be turned to the downside for 0.8864 support for confirmation.

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) 0.8771; (P) 0.8789; (R1) 0.8807; More…

Outlook in EUR/GBP remains mixed and intraday bias stays neutral first. On the upside, break of 0.8864 will target 0.8924 resistance first. Firm break there should resume larger rise from 0.8545 through 0.8977 high. However, decisive break of 0.8717 support will resume the decline from 0.8977 instead.

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.