Daily Pivots: (S1) 0.8936; (P) 0.8965; (R1) 0.9001; More…

Intraday bias in EUR/GBP remains on the upside at this point. The corrective decline from 0.9175 has possibly completed with three waves down to 0.8866, ahead of 0.8864 support. Rise form 0.8670 might be still in progress. Further rise should be seen to retesting 0.9148/9175 resistance zone. On the downside, break of 0.8866 will resume the fall from 0.9175 instead.

– advertisement –

In the bigger picture, at this point, we’s still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds.

Source link