Daily Pivots: (S1) 0.8766; (P) 0.8780; (R1) 0.8800; More…
Intraday bias in EUR/GBP stays neutral at this point. Considering bearish divergence condition in D MACD, sustained trading below 55 D EMA (now at 0.745) will solidify the case of bearish reversal. Deeper fall should then be seen to 0.8631 cluster (38.2% retracement of 0.8221 to 0.8663 at 0.8618). However, break of 0.8816 minor resistance will bring stronger rebound to retest 0.8863 high instead.
In the bigger picture, rise from 0.8221 medium term bottom is still seen as a corrective move. Upside should be limited by 61.8% retracement of 0.9267 to 0.8221 at 0.8867. Sustained trading below 55 W EMA (now at 0.8600) should confirm that this corrective bounce has completed. However, decisive break of 0.8867 will suggest that EUR/GBP is already reversing whole decline from 0.9267 (2022 high). That should pave the way back to 0.9267.
 will solidify the case of bearish reversal. Deeper fall should then be seen to 0.8631 cluster (38.2% retracement of 0.8221 to 0.8663 at 0.8618). However, break of 0.8816 minor resistance will bring stronger rebound to retest 0.8863 high instead.){kind=link}