Daily Pivots: (S1) 0.8256; (P) 0.8280; (R1) 0.8295; More…
EUR/GBP’s fall from 0.8472 resumed by breaking through 0.8264 temporary low. Intraday bias is now back on the downside for retesting 0.8201/21 key support level. Firm break there will carry larger bearish implications. For now, risk will stay on the downside as long as 0.8304 resistance holds, in case of recovery.
In the bigger picture, the medium term down trend remains intact with EUR/GBP staying well inside the falling channel. Prior rejection by 55 W EMA (now at 0.8431) also affirm bearishness. Decisive break of 0.8201/8221 support zone will resume whole down trend from 0.9449 (2020 high) and carry larger bearish implications.
