EUR/GBP may rise 16 - 23 pips

0.8424 is our pivot point.

Our preference

As long as 0.8424 is support look for 0.8461.

Alternative scenario

The downside breakout of 0.8424 would call for 0.8411 and 0.8404.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (0.8438) but above its 50 period moving average (0.8434).

Supports and resistances

0.8476 **

0.8468 *

0.8461 **

0.8454

0.8438 last

0.8429

0.8424 **

0.8411 *

0.8404 **

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