Daily Pivots: (S1) 0.8318; (P) 0.8342; (R1) 0.8381; More…

Intraday bias in EUR/GBP remains neutral as consolidation from 0.8276 extends. 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. However, firm break of 0.8508 will indicate short term bottoming and bring stronger rebound to 55 day EMA (now at 0.8596).

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) 0.8259; (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.

EUR/GBP’s fall accelerated to as low as 0.8276 last week. A temporary low was formed there with subsequent recovery. Initial bias is neutral this week for some consolidations 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.

In the long term picture, the strong break of 55 month EMA now suggests that rise from 0.6935 (2015 low) has completed at 0.9324 already. However fall from there could be the third leg of the whole pattern from 0.9799 (2008 high). It’s a bit early to judge how fall 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) 0.8412; (P) 0.8460; (R1) 0.8500; More…

EUR/GBP’s decline resumed after brief consolidation and accelerates to as low as 0.8276 so far. Intraday bias is back on the downside. Current fall from 0.9324 will target 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8149 next. On the upside, break of 0.8508 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, correction from 0.9324 medium term top is still in progress. 38.2% retracement of 0.6935 to 0.9324 at 0.8411 is 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) 0.8409; (P) 0.8436; (R1) 0.8461; More…

Intraday bias in EUR/GBP remains neutral for consolidation above 0.8932 temporary low. Stronger recovery could be seen. Still, further decline is expected as long as 0.8786 resistance holds. Sustained break of 0.8411 fibonacci level will target 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8149 next.

In the bigger picture, correction from 0.9324 medium term top is still in progress. Based on current downside momentum, sustained break of 38.2% retracement of 0.6935 to 0.9324 at 0.8411 would pave the way to 61.8% retracement at 0.7848. 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) 0.8400; (P) 0.8416; (R1) 0.8433; More…

A temporary low is in place at 0.8392 in EUR/GBP and intraday bias is turned neutral first. For now, further decline is expected as long as 0.8786 resistance holds. Sustained break of 0.8411 fibonacci level will target 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8149 next.

In the bigger picture, correction from 0.9324 medium term top is still in progress. Based on current downside momentum, sustained break of 38.2% retracement of 0.6935 to 0.9324 at 0.8411 would pave the way to 61.8% retracement at 0.7848. 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) 0.8398; (P) 0.8412; (R1) 0.8431; More…

With 0.8467 minor resistance intact, intraday bias in EUR/GBP remains on the downside at this point. Sustained break of 0.8411 fibonacci level will target 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8149 next. On the upside, above 0.8467 minor resistance will turn intraday bias neutral first and bring consolidations, before staging another fall.

In the bigger picture, correction from 0.9324 medium term top is still in progress. Based on current downside momentum, sustained break of 38.2% retracement of 0.6935 to 0.9324 at 0.8411 would pave the way to 61.8% retracement at 0.7848. 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) 0.8398; (P) 0.8433; (R1) 0.8455; More…

EUR/GBP’s decline continues today and intraday bias stays on the downside. Sustained break of 0.8411 fibonacci level will target 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8149 next. On the upside, above 0.8467 minor resistance will turn intraday bias neutral first and bring consolidations, before staging another fall.

In the bigger picture, correction from 0.9324 medium term top is still in progress. Based on current downside momentum, sustained break of 38.2% retracement of 0.6935 to 0.9324 at 0.8411 would pave the way to 61.8% retracement at 0.7848. In any case, further decline would remain in favor as long as 0.8786 support turned resistance holds, even in case of strong rebound.

EUR/GBP dropped further to as low as 0.8411 last week. 0.8472 support was taken out firmly, without sign of bottoming. Initial bias remains on the downside this week. Sustained break of 0.8411 fibonacci level will target 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8149 next. On the upside, above 0.8467 minor resistance will turn intraday bias neutral first. Outlook will stay bearish as long as 0.8676 resistance holds, in case of rebound.

In the bigger picture, correction from 0.9324 medium term top is still in progress. Based on current downside momentum, sustained break of 38.2% retracement of 0.6935 to 0.9324 at 0.8411 would pave the way to 61.8% retracement at 0.7848. In any case, further decline would remain in favor as long as 0.8786 support turned resistance holds, even in case of strong rebound.

In the long term picture, rise from 0.6935 (2015 low) could either be resuming the up trend from 0.5680 (2000 low). Or it’s just the second leg of the consolidation pattern from 0.9799 (2008 high). Eventual structure of the pull back from 0.9324 should reveal which case it should be.

Daily Pivots: (S1) 0.8427; (P) 0.8441; (R1) 0.8453; More…

No change in EUR/GBP’s outlook. With 0.8498 minor resistance, intraday bias remains on the downside for 0.8411 fibonacci level first. Decisive break there will pave the way to 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481,0.8149 next. On the upside, above 0.8498 minor resistance will turn bias neutral and bring recovery first.

In the bigger picture, correction from 0.9324 medium term top is still in progress. Deeper fall should be seen back to 38.2% retracement of 0.6935 to 0.9324 at 0.8411. Based on current downside momentum, sustained break of 0.8411 would pave the way to 61.8% retracement at 0.7848. In any case, further decline would remain in favor as long as 0.8768 support turned resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 0.8426; (P) 0.8478; (R1) 0.8504; More…

EUR/GBP’s decline accelerate to as low as 0.8430 so far. 0.8472 support is taken out without sign of bottoming. Intraday bias remains on the downside for 0.8411 fibonacci level first. Decisive break there will pave the way to 161.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481,0.8149 next. On the upside, above 0.8498 minor resistance will turn bias neutral and bring recovery first.

In the bigger picture, correction from 0.9324 medium term top is still in progress. Deeper fall should be seen back to 38.2% retracement of 0.6935 to 0.9324 at 0.8411. Based on current downside momentum, sustained break of 0.8411 would pave the way to 61.8% retracement at 0.7848. In any case, further decline would remain in favor as long as 0.8768 support turned resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 0.8503; (P) 0.8534; (R1) 0.8556; More…

EUR/GBP’s fall is still in progress and reaches as low as 0.8494 so far. Current fall from 0.9324 should target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 0.8472 key support. We’d look for strong support from there to contain downside to bring rebound. On the upside, break of 0.8574 resistance will indicate short term bottoming and bring stronger rebound back to 0.8786 support turned resistance.

In the bigger picture, correction from 0.9324 medium term top is still in progress. 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. Meanwhile, sustained break of 0.8411 will pave the way to 0.7848.

Daily Pivots: (S1) 0.8509; (P) 0.8526; (R1) 0.8539; More…

No change in EUR/GBP’s outlook. With 0.8605 minor resistance intact, further decline is expected. Current fall from 0.9324 should target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 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, correction from 0.9324 medium term top is still in progress. 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. Meanwhile, sustained break of 0.8411 will pave the way to 0.7848.

Daily Pivots: (S1) 0.8509; (P) 0.8526; (R1) 0.8539; More…

With 0.8605 minor resistance intact, further decline is expected in EUR/GBP/ Current fall from 0.9324 should target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 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, correction from 0.9324 medium term top is still in progress. 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. Meanwhile, sustained break of 0.8411 will pave the way to 0.7848.

EU/GBP’s decline resumed last week by breaking 0.8521 temporary low. Initial bias remains on the downside this week. Current fall from 0.9324 should target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 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, correction from 0.9324 medium term top is still in progress. 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. Meanwhile, sustained break of 0.8411 will pave the way to 0.7848.

In the long term picture, rise from 0.6935 (2015 low) could either be resuming the up trend from 0.5680 (2000 low). Or it’s just the second leg of the consolidation pattern from 0.9799 (2008 high). Eventual structure of the pull back from 0.9324 should reveal which case it should be.

Daily Pivots: (S1) 0.8509; (P) 0.8520; (R1) 0.8541; More…

With 0.8605 resistance intact, further decline is expected in EUR/GBP to 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) 0.8498; (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) 0.8541; (P) 0.8560; (R1) 0.8588; More…

Intraday bias in EUR/GBP remains neutral for consolidation above 0.8521 temporary low. Further decline remains mildly in favor as long as 0.8605 minor resistance holds. Break of 0.8521 will target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 0.8472 key support. Considering diminishing downside momentum as seen in daily MACD, we’d expect strong support from there to bring rebound. On the upside, break of 0.86860576 resistance will indicate short term bottoming and bring stronger rebound back to 0.8786/9019 resistance zone.

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) 0.8516; (P) 0.8550; (R1) 0.8571; More…

EUR/GBP is staying in consolidation from 0.8521 temporary low and intraday bias remains neutral first. Further decline remains mildly in favor as long as 0.8605 minor resistance holds. Break of 0.8521 will target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 0.8472 key support. Considering diminishing downside momentum as seen in daily MACD, we’d expect strong support from there to bring rebound. On the upside, break of 0.86860576 resistance will indicate short term bottoming and bring stronger rebound back to 0.8786/9019 resistance zone.

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) 0.8564; (P) 0.8584; (R1) 0.8608; More…

Intraday bias in EUR/GBP remains neutral at this point. Another fall is mildly in favor as long as 0.8676 resistance holds. Break of 0.8521 will target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 0.8472 key support. Considering diminishing downside momentum as seen in daily MACD, we’d expect strong support from there to bring rebound. On the upside, break of 0.8676 resistance will indicate short term bottoming and bring stronger rebound back to 0.8786/9019 resistance zone first.

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.