EUR/GBP may rise 16 - 23 pips

Our pivot point is at 0.8386.

Our preference

Rebound towards 0.8421.

Alternative scenario

The downside breakout of 0.8386 would call for 0.8373 and 0.8366.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.8399 and 0.8409).

Supports and resistances

0.8436 **

0.8429 *

0.8421 **

0.8414

0.8398 last

0.8391

0.8386 **

0.8373 *

0.8366 **

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