EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8512; (P) 0.8545; (R1) 0.8565; More…

Intraday bias in EUR/GBP stays mildly on the downside at this point. Deeper fall would be seen to retest 0.8491 low. Firm break there will resume larger down trend. On the upside, above 0.8609 resistance will bring another rebound. But in any case, outlook will stay bearish as long as 0.8667 resistance holds.

In the bigger picture, the down trend from 0.9267 (2022 high) is seen as part of the long term range pattern from 0.9499 (2020 high). Further decline is in favor as long as 0.8667 resistance holds. Break of 0.8491 will resume the fall towards 0.8201 (2022 low).

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