Daily Pivots: (S1) 0.9054; (P) 0.9092; (R1) 0.9119; More…
Intraday bias in EUR/GBP remain son the upside at this point. Decisive break of 0.9175 will resume whole choppy rise from 0.8670. Next target will be 100% projection of 0.8670 to 0.9175 from 0.8866 at 0.9371. On the downside, below 0.9034 minor support will turn intraday bias neutral first. But further rally will now be in favor as long as 0.8866 support holds.
In the bigger picture, at this point, we’re still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds.
