EUR/GBP may rise 18 - 25 pips

Our pivot point stands at 0.8430.

Our preference

The upside prevails as long as 0.8430 is support.

Alternative scenario

The downside breakout of 0.8430 would call for 0.8418 and 0.8410.

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 0.8439 and 0.8438).

Supports and resistances

0.8482 **

0.8475 *

0.8467 **

0.8460

0.8442 last

0.8435

0.8430 **

0.8418 *

0.8410 **

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