EUR/GBP may fall 24 - 36 pips

0.8447 is our pivot point.

Our preference

The downside prevails as long as 0.8447 is resistance.

Alternative scenario

The upside breakout of 0.8447, would call for 0.8468 and 0.8479.

Comment

The RSI is below its neutrality area at 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 0.8436 and 0.8439). Finally, the EUR/GBP has penetrated its lower Bollinger band (0.8430).

Supports and resistances

0.8479 **

0.8468 *

0.8447 **

0.8440

0.8428 last

0.8404

0.8392 **

0.8380 *

0.8368 **

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