EUR/GBP may fall 17 - 25 pips

0.8437 is our pivot point.

Our preference

Technical rebound towards 0.8437 before a new drop.

Alternative scenario

Above 0.8437, look for 0.8451 and 0.8459.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above its 20 period moving average (0.8423) but under its 50 period moving average (0.8427).

Supports and resistances

0.8459 **

0.8451 *

0.8437 **

0.8432

0.8427 last

0.8410

0.8402 **

0.8394 *

0.8386 **

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