EUR/GBP may rise 22 - 32 pips

Our pivot point stands at 0.8571.

Our preference

The upside prevails as long as 0.8571 is support.

Alternative scenario

The downside breakout of 0.8571 would call for 0.8554 and 0.8544.

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 both its 20 and 50 period moving average (respectively at 0.8574 and 0.8579).

Supports and resistances

0.8637 **

0.8627 *

0.8617 **

0.8607

0.8585 last

0.8577

0.8571 **

0.8554 *

0.8544 **

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