EUR/GBP may rise 22 - 32 pips

Our pivot point stands at 0.8357.

Our preference

As long as 0.8357 is support look for 0.8403.

Alternative scenario

The downside breakout of 0.8357 would call for 0.8340 and 0.8330.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.8371 and 0.8368).

Supports and resistances

0.8424 **

0.8414 *

0.8403 **

0.8393

0.8371 last

0.8364

0.8357 **

0.8340 *

0.8330 **

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