Daily Pivots: (S1) 0.8284; (P) 0.8315; (R1) 0.8339; More…
EUR/GBP’s fall from 0.8472 is in progress and intraday bias stays on the downside. Corrective rebound from 0.8221 should have completed already. Deeper decline would be seen to retest this low. On the upside, above 0.8535 minor resistance will turn intraday bias neutral first.
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.
