EUR/GBP may fall 15 - 22 pips

0.8426 is our pivot point.

Our preference

The downside prevails as long as 0.8426 is resistance.

Alternative scenario

Above 0.8426, look for 0.8439 and 0.8446.

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 0.8425 and 0.8426). Finally, the EUR/GBP has penetrated its lower Bollinger band (0.8416).

Supports and resistances

0.8446 **

0.8439 *

0.8426 **

0.8421

0.8414 last

0.8399

0.8392 **

0.8384 *

0.8377 **

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