Intraday bias in EUR/GBP is turned neutral first with current retreat. Strong resistance is expected from 0.8160 to finish the corrective rebound from 0.8453. On the downside, break of 0.8545 support will bring retest of 0.8453 low. However, sustained break of 0.8610 will dampen this bearish view and bring stronger rally to falling channel resistance (now at 0.8638).
In the bigger picture, rise from 0.8221 (2024 low) should have completed at 0.8863, just ahead of 38.2% retracement of 0.9267 (2025 high) to 0.8221 at 0.8867. Deeper fall would be seen back to 0.8221. For now, outlook will be neutral at best as long as 0.8610 support turned resistance hold. However, sustained break of 0.8610 will argue that fall from 0.8863 might have completed as a correction, instead of reversal.
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