Daily Pivots: (S1) 0.8521; (P) 0.8571; (R1) 0.8619; More….
Intraday bias in EUR/GBP remains on the upside at this point. Further rise should be seen to 0.8643 resistance. Decisive break there will strengthen the case of larger bullish reversal and target 0.8764 key resistance next. On the downside, though, below 0.8550 minor support will turn intraday bias neutral first.
In the bigger picture, while the rebound from 0.8382 is strong, there is no confirmation of trend reversal yet. As long as 0.8643 resistance holds, down trend from 0.9267 could still resume through 0.8382 at a later stage. However, firm break of 0.8643 will indicate that such down trend has completed, and turn outlook bullish.
