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Daily Pivots: (S1) 0.8399; (P) 0.8428; (R1) 0.8444; More…

EUR/GBP’s fall resumed after brief recovery and intraday bias is back on the downside. Current down trend should target 0.8376 projection level next. For now, risk will remain on the downside as long as 0.8457 resistance holds, in case of another recovery.


In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 100% projection of 0.8764 to 0.8497 from 0.8643 at 0.8376. Sustained break there will target 161.8% projection at 0.8211 next. For now, outlook will remain bearish as long as 0.8643 resistance holds, even in case of stronger rebound.


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