EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8542; (P) 0.8555; (R1) 0.8561; More…

Intraday bias in EUR/GBP remains neutral for the moment. Risk stays mildly on the downside with 0.8577 resistance intact. Decisive break of t 0.8491/7 support zone will resume larger down trend. On the upside, however, break of 0.8577 will turn bias to the upside for resuming the rebound from 0.8497.

In the bigger picture, fall from 0.8764 is seen as another leg in the whole down trend from 0.9267 (2022 high). Outlook will stay bearish as long as 0.8713 resistance holds. Break of 0.8491 will target 61.8% projection of 0.8977 to 0.8491 from 0.8764 at 0.8464.

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