Daily Pivots: (S1) 0.8395; (P) 0.8403; (R1) 0.8408; More….
Immediate focus in on 0.8390 temporary low in EUR/GBP. Firm break there will resume larger down trend and target 61.8% projection of 0.8619 to 0.8396 from 0.8498 at 0.8360. While another recovery cannot be ruled out, outlook will stay bearish as long as 0.8498 resistance holds.
In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 0.8201 key support (2022 low). For now, outlook will remain bearish as long as 0.8643 resistance holds, even in case of stronger rebound.
