EUR/GBP may rise 14 - 21 pips

0.8499 is our pivot point.

Our preference

The upside prevails as long as 0.8499 is support.

Alternative scenario

The downside breakout of 0.8499 would call for 0.8487 and 0.8480.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8508 and 0.8507).

Supports and resistances

0.8545 **

0.8538 *

0.8530 **

0.8523

0.8509 last

0.8504

0.8499 **

0.8487 *

0.8480 **

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