EUR/GBP may fall 22 - 33 pips

0.8383 is our pivot point.

Our preference

The downside prevails as long as 0.8383 is resistance.

Alternative scenario

The upside breakout of 0.8383, would call for 0.8400 and 0.8410.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.8370 and 0.8372).

Supports and resistances

0.8410 **

0.8400 *

0.8383 **

0.8376

0.8368 last

0.8346

0.8335 **

0.8325 *

0.8315 **

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