Daily Pivots: (S1) 0.8238; (P) 0.8256; (R1) 0.8271; More…
Further decline is expected in EUR/GBP as long as 0.8304 resistance holds. Fall from 0.8472 would target a test on 0.8201/21 key support zone. Decisive break there will carry larger bearish implications. Nevertheless, firm break of 0.8304 will indicate short term bottoming, and turn bias back to the upside for stronger rebound.
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 0.8414) 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.
