Daily Pivots: (S1) 0.8433; (P) 0.8453; (R1) 0.8470; More…
Intraday bias in EUR/GBP remains on the upside at this point. Rise fro 0.8221 is in progress for 0.8624 key cluster resistance zone. For now, outlook will remain bullish as long as 0.8403 support holds, in case of retreat.
In the bigger picture, a medium term bottom was formed at 0.8221, just ahead of 0.8201 key support (2022 low). But outlook will be neutral as best as long as 0.8624 cluster resistance (38.2% retracement of 0.9267 to 0.8221 at 0.8621) holds. That is, larger down trend from 0.9267 (2022 high) might still extend lower. However, decisive break of 0.8621/4 should confirm trend reversal and turn outlook bullish.
