Daily Pivots: (S1) 0.8389; (P) 0.8403; (R1) 0.8428; More…
EUR/GBP’s rally resumed after brief consolidations and intraday bias is back on the upside. Current rise from 0.8239 should target 0.8472 resistance next. On the downside, below 0.8376 will turn bias neutral and bring consolidations again.
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 and down trend from 0.9267 (2022 high) could extend, at least until decisive break of channel resistance (now at 0.8511).
