EUR/GBP may rise 20 - 30 pips

Our pivot point is at 0.8345.

Our preference

As long as 0.8345 is support look for 0.8390.

Alternative scenario

The downside breakout of 0.8345 would call for 0.8328 and 0.8318.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (0.8364) but above its 50 period moving average (0.8347).

Supports and resistances

0.8410 **

0.8400 *

0.8390 **

0.8380

0.8360 last

0.8351

0.8345 **

0.8328 *

0.8318 **

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