Daily Pivots: (S1) 0.8785; (P) 0.8803; (R1) 0.8823; More…
Intraday bias in EUR/GBP remains mildly on the downside for the moment. Fall from 0.8977 would target 0.8720 support first. Decisive break there will argue that whole rebound from 0.8545 has completed, and bring retest to this low. For now, risk will stay on the downside as long as 0.8927 resistance holds, in case of recovery.
In the bigger picture, focus is back on 55 day EMA (now at 0.8804). Sustained trading below there will argue that fall from 0.9267 is in progress. Such decline is seen as a leg inside long term range pattern from 0.9499 (2020 high). Break of 0.8545 will pave the way back to 0.8201 (2022 low).
