EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8765; (P) 0.8779; (R1) 0.8799; More…

Intraday bias in EUR/GBP stays neutral and outlook is mixed for now. On the downside, decisive break of 0.8717 support will resume whole choppy decline from 0.8977. On the upside, break of 0.8874 will resume the rebound from 0.8717 instead.

In the bigger picture, outlook remains rather mixed for now, except that price actions from 0.9267 (2022 high) are part of the long term range pattern from 0.9499 (2020 high). With 0.8720 support intact, rise from 0.8545 is in favor to continue through 0.8977. However, firm break of 0.8720 will argue that such rebound has completed, and open up deeper fall through this support level.

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