Daily Pivots: (S1) 0.8988; (P) 0.9024; (R1) 0.9078; More…
Despite dipping to 0.8927, EUR/GBP drew quick support from 0.8931 and recovered. Intraday bias stays neutral first and further rise is mildly n favor. On the upside firm break of 0.9098 resistance will extend the whole rise from 0.8655 to 0.9304 key resistance next. However, on the downside, firm break of 0.8931 will indicate near term reversal and target 0.8810 support and below.
In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). It should be in medium term rising leg for 0.9304. Meanwhile, in case of another fall, down side should be contained by 0.8620/55 support zone to bring rebound.
