Daily Pivots: (S1) 0.8652; (P) 0.8665; (R1) 0.8672; More…
Intraday bias in EUR/GBP stays neutral and more consolidations could be seen above 0.8643. Further decline is expected and decisive break of 0.8631 cluster support (38.2% retracement of 0.8221 to 0.8663 at 0.8618) will pave the way to 61.8% retracement at 0.8466. However, break of 0.8691 resistance will turn bias to the upside, for stronger rebound to 55 D EMA (now at 0.8719) first.
In the bigger picture, rise from 0.8221 medium term bottom (2024 low) is 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 0.8622) should confirm that this corrective bounce has completed. In this case, deeper fall would be seen back to 0.8201/21 key support zone. 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 pave the way to 61.8% retracement at 0.8466. However, break of 0.8691 resistance will turn bias to the upside, for stronger rebound to 55 D EMA (now at 0.8719) first.){kind=link}