EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8524; (P) 0.8567; (R1) 0.8593; More…

Intraday bias in EUR/GBP remains neutral at this point. On the upside, firm break of 0.8670 will affirm the case that whole rebound from 0.8470 is resuming through 0.8718 resistance. However, break of 0.8502 will turn bias back the downside for 0.8470 low again.

In the bigger picture, price actions from 0.9499 are still seen 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. However, firm break of 0.8276 support will suggest that rise from 0.6935 has completed and turn medium term outlook bearish.

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