EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8440; (P) 0.8456; (R1) 0.8472; More…

Intraday bias in EUR/GBP remains on the downside. Current down trend should target 0.8376 projection level next. On the upside, above 0.8446 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 100% projection of 0.8764 to 0.8497 from 0.8643 at 0.8376. Sustained break there will target 161.8% projection at 0.8211 next. For now, outlook will remain bearish as long as 0.8643 resistance holds, even in case of stronger rebound.

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