Daily Pivots: (S1) 0.8409; (P) 0.8429; (R1) 0.8441; More….
Immediate focus is now on 0.8498 resistance in EUR/GBP as rebound from 0.8382 accelerates higher. Decisive break there will indicate that fall from 0.8643 has completed with five waves down to 0.8382. Further rally should then be seen to channel resistance (now at 0.8560). Nevertheless, rejection by 0.8498 will retain near term bearishness for another fall through 0.8382 later.
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 strong rebound.
. Nevertheless, rejection by 0.8498 will retain near term bearishness for another fall through 0.8382 later.){kind=link}