EUR/GBP may rise 16 - 23 pips

Our pivot point is at 0.8413.

Our preference

Look for a drop towards 0.8413 before a bounce.

Alternative scenario

Below 0.8413, expect 0.8400 and 0.8393.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.8422 and 0.8423).

Supports and resistances

0.8461 **

0.8454 *

0.8446 **

0.8439

0.8423 last

0.8418

0.8413 **

0.8400 *

0.8393 **

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