Daily Pivots: (S1) 0.8663; (P) 0.8693; (R1) 0.8741; More…
EUR/GBP edges higher to 0.83735 today but stays below 0.8739 resistance. Intraday bias remains neutral first. For now, we’d still expect strong resistance from 0.8379 to limit upside and bring fall resumption. Break of 61.8% projection of 0.9305 to 0.8745 from 0.8967 at 0.8621 will extend larger decline to 100% projection at 0.8407. However, sustained break of 0.8739 will indicate near term reversal and bring stronger rise back to 0.8796 and above.