EUR/GBP may rise 20 - 31 pips

Our pivot point is at 0.8356.

Our preference

Our next up target stands at 0.8401.

Alternative scenario

The downside breakout of 0.8356 would call for 0.8339 and 0.8329.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8367 and 0.8369).

Supports and resistances

0.8421 **

0.8411 *

0.8401 **

0.8390

0.8370 last

0.8363

0.8356 **

0.8339 *

0.8329 **

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