Daily Pivots: (S1) 0.8627; (P) 0.8647; (R1) 0.8685; More…
Intraday bias in EUR/GBP stays neutral and more consolidations could be seen below 0.8668. Further rise is expected as long as 0.8573 resistance turned support holds. Above 0.8668 will resume the rally from 0.8354 to retest 0.8737 high.
In the bigger picture, the structure from 0.8221 medium term bottom are not impulsive enough to suggest that it’s reversing the down trend from 0.9267 (2022 high). But even if it’s a correction, firm break of 0.8737 will still pave the way to 61.8% retracement of 0.9267 to 0.8221 at 0.8867.
