Daily Pivots: (S1) 0.8388; (P) 0.8425; (R1) 0.8447; More…
Focus remains on 0.8403 support in EUR/GBP. Sustained break there will confirm short term topping at 0.8472, and bring deeper pullback to 55 D EMA (now at 0.8350). On the upside, though, break of 0.8472 will resume the rally from 0.8221 to 0.8624 key cluster resistance zone next.
In the bigger picture, a medium term bottom should be in place at 0.8221, just ahead of 0.8201 key support (2022 low). Sustained trading above 55 W EMA (now at 0.8442) will pave the way to 0.8624 cluster zone (38.2% retracement of 0.9267 to 0.8221 at 0.8621), even just as a correction to the down trend from 0.9267 (2022 high). But still, medium term outlook will be neutral at best as long as 0.8621/4 holds.
. On the upside, though, break of 0.8472 will resume the rally from 0.8221 to 0.8624 key cluster resistance zone next.){kind=link}