EUR/GBP may fall 21 - 31 pips

Our pivot point is at 0.8578.

Our preference

The downside prevails as long as 0.8578 is resistance.

Alternative scenario

Above 0.8578, look for 0.8595 and 0.8605.

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 0.8579 and 0.8598).

Supports and resistances

0.8605 **

0.8595 *

0.8578 **

0.8572

0.8564 last

0.8543

0.8533 **

0.8523 *

0.8513 **

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