EUR/GBP may rise 17 - 25 pips

Our pivot point stands at 0.8442.

Our preference

Rebound towards 0.8477.

Alternative scenario

The downside breakout of 0.8442 would call for 0.8429 and 0.8422.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.8455 and 0.8462).

Supports and resistances

0.8492 **

0.8484 *

0.8477 **

0.8469

0.8452 last

0.8447

0.8442 **

0.8429 *

0.8422 **

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