Daily Pivots: (S1) 0.8412; (P) 0.8456; (R1) 0.8489; More…
Intraday bias in EUR/GBP remains on the downside as this point. Corrective rise from 0.8726 should have completed at 0.8595 already. Further fall should be seen to retest 0.8726 low. Break will resume larger down trend from 0.9324. On the upside, above 0.8487 will turn bias back to the upside for 0.8595 resistance instead.
In the bigger picture, decline from 0.9324 medium term top is till in progress. As long as 0.8786 support turned resistance holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and turn focus back to this high.
