EUR/GBP may fall 15 - 23 pips

Our pivot point is at 0.8445.

Our preference

The downside prevails as long as 0.8445 is resistance.

Alternative scenario

Above 0.8445, look for 0.8458 and 0.8465.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.8435 and 0.8437).

Supports and resistances

0.8465 **

0.8458 *

0.8445 **

0.8440

0.8434 last

0.8419

0.8411 **

0.8404 *

0.8397 **

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