EUR/GBP may fall 24 - 36 pips

Our pivot point stands at 0.8552.

Our preference

Under pressure below 0.8552.

Alternative scenario

The upside breakout of 0.8552, would call for 0.8572 and 0.8583.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.8537 and 0.8533). Finally, the EUR/GBP is trading below its lower Bollinger band (standing at 0.8532).

Supports and resistances

0.8583 **

0.8572 *

0.8552 **

0.8544

0.8531 last

0.8507

0.8495 **

0.8483 *

0.8471 **

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