EUR/GBP may rise 22 - 32 pips

0.8597 is our pivot point.

Our preference

As long as 0.8597 is support look for 0.8643.

Alternative scenario

The downside breakout of 0.8597 would call for 0.8580 and 0.8570.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.8603 and 0.8585).

Supports and resistances

0.8663 **

0.8653 *

0.8643 **

0.8633

0.8611 last

0.8603

0.8597 **

0.8580 *

0.8570 **

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