EUR/GBP may rise 23 - 34 pips

Our pivot point stands at 0.8570.

Our preference

As long as 0.8570 is support look for 0.8619.

Alternative scenario

The downside breakout of 0.8570 would call for 0.8551 and 0.8540.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.8584 and 0.8571).

Supports and resistances

0.8642 **

0.8631 *

0.8619 **

0.8608

0.8585 last

0.8577

0.8570 **

0.8551 *

0.8540 **

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