The intraday bias for EUR/GBP remains neutral as the pair continues to consolidate within its recent trading range. The recovery from 0.8453 is currently viewed as a corrective bounce rather than a trend reversal. If the pair attempts another leg higher, significant resistance is expected around the 0.8610 level, where former support has now flipped into a ceiling. On the downside, a decisive break below 0.8530 would shift the bias back to the downside, opening the door for a retest of the 0.8453 low. Conversely, a firm break above 0.8610 would likely trigger a stronger rally toward the falling channel resistance, currently positioned at 0.8638.
Looking at the broader technical picture, the rally from the 2024 low of 0.8221 appears to have peaked at 0.8863, falling just short 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 remains a plausible scenario. For now, the overall outlook is expected to stay neutral at best, provided that the 0.8610 level continues to hold as resistance.
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