EUR/GBP may rise 24 - 36 pips

0.8454 is our pivot point.

Our preference

Rebound towards 0.8506.

Alternative scenario

The downside breakout of 0.8454 would call for 0.8435 and 0.8423.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.8471 and 0.8475).

Supports and resistances

0.8529 **

0.8517 *

0.8506 **

0.8494

0.8470 last

0.8462

0.8454 **

0.8435 *

0.8423 **

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