EUR/GBP may fall 15 - 23 pips

Our pivot point stands at 0.8440.

Our preference

The downside prevails as long as 0.8440 is resistance.

Alternative scenario

The upside breakout of 0.8440, would call for 0.8453 and 0.8460.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.8437 and 0.8448).

Supports and resistances

0.8460 **

0.8453 *

0.8440 **

0.8435

0.8430 last

0.8415

0.8407 **

0.8400 *

0.8392 **

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