EUR/GBP may fall 16 - 23 pips

0.8446 is our pivot point.

Our preference

The downside prevails as long as 0.8446 is resistance.

Alternative scenario

Above 0.8446, look for 0.8458 and 0.8466.

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 0.8438 and 0.8438).

Supports and resistances

0.8466 **

0.8458 *

0.8446 **

0.8441

0.8435 last

0.8419

0.8412 **

0.8405 *

0.8397 **

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