Daily Pivots: (S1) 0.8491; (P) 0.8512; (R1) 0.8530; More…
Intraday bias in EUR/GBP remains neutral for consolidations below 0.6545 temporary top. Further rally is expected as long as 0.8416 support holds. Above 0.8545 will target for 61.8% retracement of 0.8737 to 0.8354 at 0.8591. Firm break there will pave the way to 0.8373 resistance.
In the bigger picture, price actions from 0.8221 medium term bottom are merely forming a corrective pattern to the down trend from 0.9267 (2022 high). 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.
