EUR/GBP may fall 16 - 23 pips

0.8480 is our pivot point.

Our preference

As long as 0.8480 is resistance look for 0.8440.

Alternative scenario

Above 0.8480, look for 0.8492 and 0.8500.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.8464 and 0.8465).

Supports and resistances

0.8500 **

0.8492 *

0.8480 **

0.8475

0.8463 last

0.8447

0.8440 **

0.8432 *

0.8425 **

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