Daily Pivots: (S1) 0.9035; (P) 0.9081; (R1) 0.9136; More…
Intraday bias in EUR/GBP remains on the downside for 0.8866 support. Firm break there will confirm that whole rebound form 0.867-0 has completed. For now, risk will remain mildly on the downside as long as 0.9220 resistance holds, in case of recovery.
In the bigger picture, at this point, we’re seeing the price actions from 0.9499 as developing into a corrective pattern. That is, up trend from 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds. Decisive break of 0.9499 will target 0.9799 (2008 high).
