EUR/GBP Daily Outlook – Action Forex

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Daily Pivots: (S1) 0.8581; (P) 0.8598; (R1) 0.8608; More…

Intraday bias in EUR/GBP stays neutral and outlook is unchanged. On the downside, below 0.8585 minor support will argue that rebound from 0.8529 has completed, and larger fall might be ready to resume. Intraday bias will be back on the downside for 0.8529 support first.

In the bigger picture, outlook remains bearish as EUR/GBP is capped below medium term falling trendline. That is, down trend from 0.9267 (2022 high) is still in progress. Firm break of 0.8491/7 will target 100% projection of 0.8764 to 0.8497 from 0.8643 at 0.8376.

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