Daily Pivots: (S1) 0.8268; (P) 0.8287; (R1) 0.8323; More…
Current upside acceleration affirms the case that corrective fall from 0.8472 has completed at 0.8239 already. Intraday bias in EUR/GBP remains on the upside for 61.8% retracement of 0.8472 to 0.8239 at 0.8383. Sustained break there will target 0.8472 resistance next. On the downside, below 0.8321 minor support will turn intraday bias neutral first.
In the bigger picture, EUR/GBP is still bounded inside medium term falling channel. While rebound from 0.8221 might extend higher, it could still develop into a corrective pattern. Overall outlook will be neutral at best, at least until decisive break of channel resistance (now at 0.8511).
