EUR/GBP may fall 10 - 15 pips

Our pivot point stands at 0.8518.

Our preference

The downside prevails as long as 0.8518 is resistance.

Alternative scenario

The upside breakout of 0.8518, would call for 0.8527 and 0.8532.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.8517 and 0.8515). Finally, the EUR/GBP has penetrated its lower Bollinger band (0.8512).

Supports and resistances

0.8532 **

0.8527 *

0.8518 **

0.8515

0.8510 last

0.8500

0.8495 **

0.8490 *

0.8485 **

Number of asterisks represents the strength of support and resistance levels.