Daily Pivots: (S1) 0.8364; (P) 0.8374; (R1) 0.8384; More…
Intraday bias in EUR/GBP remains neutral as more consolidations could be seen below 0.8448. On the upside. break of 0.8488 will resume the rise from 0.8239 through 0.8472 resistance to medium term falling channel resistance (now at 0.8495). However, sustained break of 55 D EMA (now at 0.8347) will suggest that rise from 0.8239 has completed and turn bias back to the downside instead.
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 0.8495).
. However, sustained break of 55 D EMA (now at 0.8347) will suggest that rise from 0.8239 has completed and turn bias back to the downside instead.){kind=link}