The intraday bias for EUR/GBP remains neutral, with the broader outlook unchanged. Although the bounce from 0.8453 may continue, the former support level at 0.8610—now acting as resistance—is expected to cap any meaningful advance.
A decisive break below 0.8530 would suggest that the corrective rebound from 0.8453 has run its course, tilting the bias back to the downside and setting up a retest of that recent low. Conversely, a firm breakout above 0.8610 would open the door for a stronger rally toward the upper boundary of the falling channel, currently situated near 0.8644.
From a wider perspective, the advance from 0.8221—established as the 2024 low—appears to have concluded at 0.8863, just shy of the 38.2% Fibonacci retracement of the move from 0.9267 (2025 high) to 0.8221, which sits at 0.8867. A deeper decline toward 0.8221 looks likely from here. For the time being, the broader picture is expected to remain neutral at best, provided that 0.8610 continues to act as a ceiling.
