Daily Pivots: (S1) 0.8543; (P) 0.8574; (R1) 0.8625; More…
Intraday bias in EUR/GBP stays on the upside as rise from 0.8338 is in progress. Corrective fall from 0.8720 should have completed at 0.8338 already. Further rally should be seen back to retest 0.8720. Decisive break there will carry larger bullish implications. On the downside, below 0.8520 minor support will mix up the outlook and turn intraday bias neutral first.
In the bigger picture, medium term bearishness is maintained with prior rejection by 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Break of 0.8201 will resume larger down trend from 0.9499 (2020 high). Nevertheless, sustained break of 0.8697 will affirm the case that rise from 0.8201 is a medium term up trend itself.
