Daily Pivots: (S1) 0.8642; (P) 0.8649; (R1) 0.8662; More…
Intraday bias in EUR/GBP stays neutral first. On the upside, firm break of 0.852 resistance should confirm short term bottoming, and turn bias back to the upside for stronger rebound to 55 D EMA (now at 0.8675) and above. On the downside, decisive break of 0.8610 key support carry larger bearish implications and pave the way to 0.8466 fibonacci level next.
In the bigger picture, focus is back on 38.2% retracement of 0.8821 to 0.8863 at 0.8618. Sustained break there will confirm that whole rise from 0.8221 has completed at 0.8863. Deeper decline should then be seen to 61.8% retracement at 0.8466 at least. For now, risk will stay mildly on the downside as long as 55 D EMA (now at 0.8680) holds, in case of recovery.
 and above. On the downside, decisive break of 0.8610 key support carry larger bearish implications and pave the way to 0.8466 fibonacci level next.){kind=link}