Fri, Mar 24, 2023 @ 21:44 GMT

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8879; (P) 0.8894; (R1) 0.8918; More…

Intraday bias in EUR/GBP remains on the upside for retesting 0.8977 resistance. Firm break there will resume whole rally from 0.8545 and target 0.9267 high. However, break of 0.8802 will now be a sign of reversal and turn bias back to 0.8720 support instead.

In the bigger picture, the notable support from 55 day EMA (now at 0.8780) retains near term bullishness. Break of 0.8896 should target 0.9267 (2022 high) and possibly above, to resume whole up trend from 0.8201 (2022 low). However, break of 0.8270 support and sustained trading below 55 day EMA will set the stage for 0.8545 and below.

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