The EUR/GBP has been in a steady bullish run towards W H5 camarilla pivot. However a confluence of +1/8 + 2/8, W H5 and M H3 pivots is stopping further gains.
The EUR/GBP has gained mostly to GBP weakness as month-end equity rebalancing negatively affect the pound. Additionally the USD weakness helped the EUR gain some bullish momentum. The pair is currently being rejected from the POC zone 0.8915-25. If the retracement gets to 0.8840 zone we could expect fresh buyers to show up. Further gains will be secured only if the pair makes a 4h or daily close above 0.8930. At this point a strong confluence is rejecting the pair towards trend line W H3 and 5/8 MM confluence.
For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.