Sep 26, 2022, 08:00PM+7:00
VOT Research Desk
Analytical Viewpoint EUR/GBP
Daily Pivots: (S1) 0.8784; (P) 0.8860; (R1) 0.9008;
After increasing to 0.9267, EUR/GBP fell precipitously. First, intraday bias is neutralized. As long as the 0.8720 resistance turned support holds, more surge is anticipated.
The long-term resistance of 0.9499 will be reached above 0.9267. However, the near-term prognosis will change if the 0.8270 support is broken. In the big picture, the increase from 0.8201 is well underway, with 0.9499 (the 2020 high) being the next goal.
The current momentum suggests that such a rebound will resume the upward trend from 0.6935. (2015 low). Firm break of 0.9499 will aim for the roughly 0.9799-based 61.8% estimate of 0.6935 to 0.9499 from 0.8201 at 0.9786. (2008 high).
As long as the 0.8720 resistance turned support holds, this will continue to be the preferred scenario.
