The intraday bias for EUR/GBP currently remains neutral. Strong resistance is anticipated near the 0.8610 level, which would be required to fully confirm the corrective bounce originating from the 0.8453 low. A downside break below 0.8545 support would shift the bias back to the downside, potentially retesting the 0.8453 low. However, a sustained break above 0.8610 would undermine this bearish perspective and pave the way for a stronger rally toward the falling channel resistance, currently positioned at 0.8633.
From a broader perspective, the rally from the 0.8221 low (2024 low) appears to have completed near 0.8863, just shy of the 38.2% retracement of the 0.9267 (2025 high) to 0.8221 move, which sits at 0.8867. A more significant decline could see prices returning toward 0.8221. For the time being, the outlook remains neutral at best as long as the 0.8610 support-turned-resistance level holds firm. That said, a sustained break above 0.8610 would suggest that the decline from 0.8863 may have played out as a correction rather than a full reversal.
