Daily Pivots: (S1) 0.8405; (P) 0.8421; (R1) 0.8439; More…
Intraday bias in EUR/GBP is turned neutral first with current retreat. Another fall is expected as long as 0.8539 resistance holds. As noted before, rebound from 0.8221 might have completed as a corrective move. Break of 0.8401 will target a retest on 0.8221/8239 support zone.
In the bigger picture, the extended decline from 0.8737 dampened the original bullish view. While a medium term bottom was in place at 0.8221, price actions from there could be a corrective pattern only. Larger down trend from 0.9267 (2022 high) might still be in progress. Sustained trading below 55 W EMA (now at 0.8438) will turn favor to this bearish case.
