Daily Pivots: (S1) 0.9066; (P) 0.9111; (R1) 0.9159; More…

Intraday bias in EUR/GBP remains neutral first and further decline is mildly in favor with 0.9220 minor resistance intact. On the downside, below 0.9024 will target 0.8866 support first. Firm break there will confirm that whole rebound from 0.8670 has completed. Nevertheless, break of 0.9220 will argue that such rebound from 0.8670 is resuming for above 0.9291.

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In the bigger picture, at this point, we’re seeing the price actions from 0.9499 as developing into a corrective pattern. That is, up trend from 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds. Decisive break of 0.9499 will target 0.9799 (2008 high).

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