EUR/GBP Daily Analysis
Intraday bias in EUR/GBP is turned neutral with the current recovery, but the deeper decline is in favor with 0.8848 minor resistance intact. The rise from 0.8201 could have been completed at 0.9267 in the three-wave corrective pattern. A sustained break of 55-day EMA (now at 0.86426) will target the 0.8201/8338 support zone. On the upside, above 0.8848 minor resistance will turn bias back to the upside for recovery instead.
In the bigger picture, as long as 0.8720 resistance turned support holds, a rise from 0.8201 is seen as resuming a larger up trend from 0.6935 (2015 low). A break of 0.9499 (2020 high) should be seen at a later stage. However, a firm break of 0.8720 will argue that the sideway pattern from 0.9499 is extending with another falling leg instead.
