Daily Pivots: (S1) 0.8781; (P) 0.8838; (R1) 0.8871; More…
Intraday bias in EUR/GBP remains on the downside at this point. Sustained break of 61.8% retracement of 0.8472 to 0.9324 at 0.8797 will extend the fall from 0.9324 to retest 0.8472 key support. On the upside, above 0.8894 minor resistance will turn intraday bias neutral first.
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.
