EUR/GBP may fall 24 - 36 pips

Our pivot point stands at 0.8434.

Our preference

The downside prevails as long as 0.8434 is resistance.

Alternative scenario

The upside breakout of 0.8434, would call for 0.8454 and 0.8466.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.8427 and 0.8426).

Supports and resistances

0.8466 **

0.8454 *

0.8434 **

0.8426

0.8417 last

0.8393

0.8381 **

0.8369 *

0.8357 **

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