Daily Pivots: (S1) 0.9191; (P) 0.9220; (R1) 0.9250; More…
No change in EUR/GBP’s outlook. With 0.9088 minor support intact, further rise is expected. Current rally should now target 0.9305 key resistance next. On the downside, break of 0.9088 minor support will turn intraday bias neutral again to bring consolidations, before staging another rise.
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.
