Daily Pivots: (S1) 0.9051; (P) 0.9073; (R1) 0.9091; More…

Intraday bias in EUR/GBP is turned neutral with a temporary top formed at 0.9112. Further is expected and break of 0.9112 will target 0.9175 resistance first. Break there will resume whole rebound from 0.8670. Next target will be 61.8% projection of 0.8670 to 0.9175 from 0.8930 at 0.9242. On the downside, below 0.9034 minor support will dampen this bullish case and turn intraday bias back to the downside..

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In the bigger picture, while the pull back from 0.9499 was deep, there is no sign of trend reversal yet. The up trend from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

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