EUR/GBP may rise 25 - 37 pips

Our pivot point is at 0.8518.

Our preference

The upside prevails as long as 0.8518 is support.

Alternative scenario

The downside breakout of 0.8518 would call for 0.8498 and 0.8486.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.8527 and 0.8529).

Supports and resistances

0.8597 **

0.8585 *

0.8573 **

0.8561

0.8536 last

0.8526

0.8518 **

0.8498 *

0.8486 **

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