Daily Pivots: (S1) 0.8272; (P) 0.8336; (R1) 0.8376; More…
Intraday bias in EUR/GBP remains on the downside for 0.8276 low first. Decisive break there resume larger decline from 0.9324. Next downside target will be 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8339 minor resistance will turn bias neutral and bring consolidations first, before staging another fall..
In the bigger picture, decline from 0.9324 medium term top is still 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.
