EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8652; (P) 0.8692; (R1) 0.8748; More…

Intraday bias in EUR/GBP stays neutral for the moment. Further decline is expected with 0.8869 resistance intact. On the downside, break of 0.8577 will resume the fall from 0.9267, and target 61.8% projection of 0.9267 to 0.8647 from 0.8869 at 0.8486.

In the bigger picture, current development suggests that fall from 0.9267 is a down leg inside long term range pattern. Deeper fall could be seen towards 0.8201/8338 support zone. But strong support should be seen there to bring reversal.

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