Daily Pivots: (S1) 0.8412; (P) 0.8425; (R1) 0.8446; More…
Intraday bias in EUR/GBP stays mildly on the upside at this point. Rebound from 0.8354 short term bottom should continue to 0.8458 resistance, and then 38.2% retracement of 0.8737 to 0.8354 at 0.8500. Nevertheless, break of 0.8354 will resume the decline from 0.8737 instead.
In the bigger picture, price actions from 0.8221 medium term bottom are merely forming a corrective pattern. There is no clear momentum to break through 0.8201 key support (2022 low) yet. Hence, range trading is expected between 0.8221/8737 for now.
