Daily Pivots: (S1) 0.8327; (P) 0.8345; (R1) 0.8355; More…
EUR/GBP’s fall from 0.8448 continued and the break of 55 D EMA (now at 0.8347) suggest that rise from 0.8239 has completed already. Intraday bias is back on the downside for 0.8239 support next. On the upside, above 0.8384 minor resistance will turn bias back to the upside for 0.8448. Overall, consolidation pattern from 0.8221 is still in progress and could extend further.
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).
 suggest that rise from 0.8239 has completed already. Intraday bias is back on the downside for 0.8239 support next. On the upside, above 0.8384 minor resistance will turn bias back to the upside for 0.8448. Overall, consolidation pattern from 0.8221 is still in progress and could extend further.){kind=link}