Daily Pivots: (S1) 0.8587; (P) 0.8669; (R1) 0.8712; More…

Intraday bias in EUR/GBP remains on the downside with 0.8811 minor resistance intact. Current fall from 0.9324 is still in progress and would target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481. However, break of 0.8811 will turn intraday bias neutral and bring more consolidations. But recovery should be limited below 0.9019 resistance to bring another decline.

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. 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) 0.8708; (P) 0.8759; (R1) 0.8804; More…

EUR/GBP drops to as low as 0.8627 so far and intraday bias remains on the downside. Current fall from 0.9324 should now target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481. On the upside, break of 0.8811 minor resistance is needed to indicate short term bottoming. Otherwise, further decline is expected in case of recovery.

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. 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) 0.8708; (P) 0.8759; (R1) 0.8804; More…

EUR/GBP’s fall resumed after brief recovery and intraday bias stays on the downside. Break of 61.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8687 will extend the fall from 0.9324 to 100% projection at 0.8481. On the upside, above 0.8811 minor resistance will turn intraday bias neutral. But recovery should be limited well below 0.9019 resistance to bring fall resumption.

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. 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) 0.8659; (P) 0.8760; (R1) 0.8824; More…

Intraday bias in EUR/GBP remains on the downside at this point. Break of 61.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8687 will extend the fall from 0.9324 to 100% projection at 0.8481. On the upside, above 0.8792 minor resistance will turn intraday bias neutral. But recovery should be limited well below 0.9019 resistance to bring fall resumption.

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. 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.

EUR/GBP dropped sharply to as low as 0.8695 last week as fall from 0.9324 resumed. Initial bias stays on the downside this week for 61.8% projection of 0.9324 to 0.8786 from 0.9019 at 0.8687 first. Break will target 100% projection at 0.8481. On the upside, above 0.8792 minor resistance will turn intraday bias neutral. But recovery should be limited well below 0.9019 resistance to bring fall resumption.

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. 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.

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) 0.8779; (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) 0.8954; (P) 0.8975; (R1) 0.9010; More…

Intraday bias in EUR/GBP remains on the upside as rebound from 0.8786 is extending. Sustained break of 38.2% retracement of 0.9324 to 0.8786 at 0.8992 will pave the way to 61.8% retracement at 0.9118 and above. On the downside, break of 0.8923 minor support will turn bias back to the downside for retesting 0.8786 low.

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) 0.8926; (P) 0.8963; (R1) 0.9004; More…

EUR/GBP’s rebound from 0.8786 accelerated to high as 0.8999 and hit 38.2% retracement of 0.9324 to 0.8786 at 0.8992. Intraday bias stays on the upside. Sustained break of 0.8992 will bring stronger rise to 61.8% retracement at 0.9118 and above. On the downside, break of 0.8923 minor support will turn bias back to the downside for retesting 0.8786 low.

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) 0.8876; (P) 0.8906; (R1) 0.8932; More…

EUR/GBP’s recovery from 0.8786 is extending and further rise could be seen. But based on current momentum, upside should be limited by 38.2% retracement of 0.9324 to 0.8786 at 0.8992. On the downside, firm break of 61.8% retracement of 0.8472 to 0.9324 at 0.8797 will resume the decline form 0.9324 and target 0.8472 low. However, sustained break of 0.8992 will bring stronger rise to 61.8% retracement at 0.9118 and above.

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) 0.8876; (P) 0.8906; (R1) 0.8932; More…

EUR/GBP’s corrective recovery from 0.8786 might extend higher. But based on current momentum, upside should be limited by 55 day EMA (now at 0.8953). On the downside, firm break of 61.8% retracement of 0.8472 to 0.9324 at 0.8797 will resume the decline form 0.9324 and target 0.8472 low.

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.

EUR/GBP’s corrective recovery from 0.8786 extended higher last week. While further rise is still likely, based on current momentum, upside should be limited by 55 day EMA (now at 0.8953). On the downside, firm break of 61.8% retracement of 0.8472 to 0.9324 at 0.8797 will resume the decline form 0.9324 and target 0.8472 low.

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.

In the long term picture, we’re holding on to the view that rise from 0.6935 (2015 low) is resuming the up trend from 0.5680 (2000 low). As long as 0.8472 support holds, further rise should be seen through 0.9305 to 0.9799 and above down the road.

Daily Pivots: (S1) 0.8853; (P) 0.8887; (R1) 0.8927; More…

At this point, further rise is mildly in favor in EUR/GBP as recovery from 0.8786 continues. But based on current momentum, upside should be limited by 55 day EMA (now at 0.8955). On the downside, firm break of 61.8% retracement of 0.8472 to 0.9324 at 0.8797 will resume the decline form 0.9324 and target 0.8472 low.

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) 0.8888; (P) 0.8906; (R1) 0.8930; More…

EUR/GBP’s rebound from 0.8786 short term bottom is still in progress. Intraday bias stays mildly on the upside for 55 day EMA (now at 0.8956). Sustained break will pave the way back to retest 0.9324 high. On the downside, however, firm break of 61.8% retracement of 0.8472 to 0.9324 at 0.8797 will resume the decline form 0.9324 and target 0.8472 low.

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) 0.8842; (P) 0.8889; (R1) 0.8932; More…

Intraday bias in EUR/GBP remains mildly on the upside for the moment. Rebound from 0.8786 short term bottom is targeting 55 day EMA (now at 0.8957). Sustained break will pave the way back to retest 0.9324 high. On the downside, however, firm break of 61.8% retracement of 0.8472 to 0.9324 at 0.8797 will target 0.8472 low.

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) 0.8829; (P) 0.8867; (R1) 0.8902; More…

Break of 0.8904 suggests resumption of rebound from 0.8786 short term bottom. Intraday bias is back on the upside for 55 day EMA (now at 0.8961). Sustained break will pave the way back to retest 0.9324 high. On the downside, however, firm break of 61.8% retracement of 0.8472 to 0.9324 at 0.8797 will target 0.8472 low.

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) 0.8829; (P) 0.8867; (R1) 0.8902; More…

Intraday bias in EUR/GBP is turned after as it lost momentum after hitting 0.8904. Intraday bias is turned neutral first. On the upside, above 0.8904 will extend the rebound from 0.8786 short term bottom to 55 day EMA (now at 0.8958). On the downside, however, firm break of 61.8% retracement of 0.8472 to 0.9324 at 0.8797 will target 0.8472 low.

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) 0.8865; (P) 0.8885; (R1) 0.8923; More…

A short term bottom should be in place at 0.8786 in EUR/GBP. Further rise is expected to 55 day EMA (now at 0.8966). Sustained break there will pave the way to retest 0.9324 high. On the downside, however, firm break of 61.8% retracement of 0.8472 to 0.9324 at 0.8797 will target 0.8472 low.

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.

EUR/GBP’s break of 0.8894 minor resistance suggest short term bottoming at 0.8786, on bullish convergence condition in 4 hour MACD, after touching 61.8% retracement of 0.8472 to 0.9324 at 0.8797. Initial bias is now on the upside this week for 55 day EMA (now at 0.8966). Sustained break there will pave the way to retest 0.9324 high. On the downside, however, firm break of 0.8797 will target 0.8472 low.

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.

In the long term picture, we’re holding on to the view that rise from 0.6935 (2015 low) is resuming the up trend from 0.5680 (2000 low). As long as 0.8472 support holds, further rise should be seen through 0.9305 to 0.9799 and above down the road.

Daily Pivots: (S1) 0.8843; (P) 0.8864; (R1) 0.8884; More…

Focus stays on 0.8894 minor resistance in EUR/GBP. Break should confirm short term bottoming at 0.8786, on bullish convergence condition in 4 hour MACD, after breaching 61.8% retracement of 0.8472 to 0.9324 at 0.8797. Intraday bias would then be turned back to the upside for 55 day EMA (now at 0.8969). On the downside, sustained break of 0.8797 will extend the fall from 0.9324 towards 0.8472 key support next.

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) 0.8823; (P) 0.8852; (R1) 0.8889; More…

Intraday bias in EUR/GBP remains neutral at this point. On the downside, sustained break of 61.8% retracement of 0.8472 to 0.9324 at 0.8797 will extend the fall from 0.9324 towards 0.8472 key support next. However, considering bullish convergence condition in 4 hour MACD, break of 0.8894 minor resistance will indicate short term bottoming. Intraday bias would then be turned back to the upside for 55 day EMA (now at 0.8969).

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.