EUR/GBP may rise 19 - 26 pips

Our pivot point is at 0.8396.

Our preference

The upside prevails as long as 0.8396 is support.

Alternative scenario

The downside breakout of 0.8396 would call for 0.8384 and 0.8376.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.8408 and 0.8402).

Supports and resistances

0.8451 **

0.8444 *

0.8436 **

0.8429

0.8410 last

0.8401

0.8396 **

0.8384 *

0.8376 **

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