EUR/GBP may rise 24 - 36 pips

0.8430 is our pivot point.

Our preference

The upside prevails as long as 0.8430 is support.

Alternative scenario

The downside breakout of 0.8430 would call for 0.8410 and 0.8398.

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 0.8436 and 0.8438). Finally, the EUR/GBP is trading above its upper Bollinger band (standing at 0.8446).

Supports and resistances

0.8507 **

0.8495 *

0.8483 **

0.8471

0.8447 last

0.8438

0.8430 **

0.8410 *

0.8398 **

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