Daily Pivots: (S1) 0.8378; (P) 0.8399; (R1) 0.8415; More…
Intraday bias in EUR/GBP stays neutral first and consolidations from 0.8294 could extend further. On the downside, break of 0.8294 low will resume larger down trend to 0.8201 key support next. On the upside, break of 0.8446 will resume the rebound from 0.8294 short term bottom towards 0.8624 resistance instead.
In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 0.8201 (2022 low), but strong support should be seen there to bring rebound. However, outlook will remain bearish as long as 0.8624 resistance holds even in case of strong rebound. Decisive break of 0.8201 will indicate long term bearish reversal.
