Daily Pivots: (S1) 0.9071; (P) 0.9127; (R1) 0.9164; More…
A temporary top is formed at 0.9190 and intraday bias in EUR/GBP is turned neutral first. Some consolidations could be seen but downside should be contained above 0.8891 support to bring another rally. On the upside, break of 0.9190 will resume recent rally for 0.9305 key resistance next.
In the bigger picture, current development confirms that corrective fall from 0.9305 (2017 high) has completed with three waves down to 0.8472. And, up trend from 0.6935 (2015 low) is ready to resume. Break of 0.9305 will target 0.9799 (2008 high) and then 61.8% projection of 0.6935 to 0.9305 from 0.8472 at 0.9937. In any case, medium term outlook will remain bullish as long as 0.8472 support holds.
