EUR/GBP’s fall resumed after brief consolidations and intraday bias is back on the downside. 61.8% retracement of 0.8221 to 0.8863 at 0.8466 was already met. Sustained break there will pave the way to 0.8221 support. On the upside, above 0.8507 minor resistance will turn intraday bias neutral again first.
In the bigger picture, current development suggests that rise from 0.8221 (2024 low) has completed at 0.8863, just ahead of 38.2% retracement of 0.8221 (2024 low) to 0.8863 (2025 high) at 0.8618. Deeper fall would be seen back to 0.8201 (2022 low). For now, outlook will be neutral at best as long as 0.8863 hold.
