Daily Pivots: (S1) 0.8474; (P) 0.8511; (R1) 0.8546; More…
Intraday bias in EUR/GBP remains on the upside for the moment. Current rebound from 0.8354 is in progress for 61.8% retracement of 0.8737 to 0.8354 at 0.8591. Firm break there will pave the way to 0.8373 resistance. On the downside, below 0.8475 minor support will turn intraday bias neutral first.
In the bigger picture, price actions from 0.8221 medium term bottom are merely forming a corrective pattern. Nevertheless, 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.
