EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8444; (P) 0.8455; (R1) 0.8467; More…

Intraday bias in EUR/GBP remains neutral and consolidation from 0.8396 could extend further. But outlook will stay bearish as long as 0.8482 support turned resistance holds. On the downside, below 0.8429 minor support will bring retest of 0.8396 low first. Further break there will resume larger down trend to 0.8376 projection level next.

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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