Daily Pivots: (S1) 0.8865; (P) 0.8883; (R1) 0.8903; More…
Intraday bias in EUR/GBP remains on the upside for the moment. Corrective rebound from 0.8722 is still in progress for 61.8% retracement of 0.9097 to 0.8722 at 0.8954 and above. On the downside, break of 0.8798 minor support will turn bias back to the downside for 0.8722 and possibly below.
In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). On the downside, break of 0.8722 will extend the falling leg through 0.8620 support. On the upside, break of 0.9097 will target 0.9304 resistance instead.
