EUR/GBP recovered after dipping to 0.8425 and intraday bias is turned neutral first. Further fall is expected as long as 0.8492 resistance holds. Decisive break of 61.8% projection of 0.8728 to 0.8453 from 0.8611 at 0.8441 will target 100% projection at 0.8336. However, considering bullish divergence condition in 4H MACD, break of 0.8492 will indicate short term bottoming, and turn bias back to the upside for 55 D EMA (now at 0.8540).
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 stay bearish as long as 0.8611 resistance hold.
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