EUR/GBP may rise 15 - 22 pips

0.8431 is our pivot point.

Our preference

As long as 0.8431 is support look for 0.8463.

Alternative scenario

The downside breakout of 0.8431 would call for 0.8418 and 0.8411.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.8438 and 0.8426).

Supports and resistances

0.8478 **

0.8471 *

0.8463 **

0.8456

0.8441 last

0.8435

0.8431 **

0.8418 *

0.8411 **

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