EUR/GBP may fall 20 - 30 pips

0.8371 is our pivot point.

Our preference

Target 0.8328.

Alternative scenario

Above 0.8371, look for 0.8388 and 0.8398.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (0.8360) but above its 50 period moving average (0.8357).

Supports and resistances

0.8398 **

0.8388 *

0.8371 **

0.8365

0.8358 last

0.8338

0.8328 **

0.8318 *

0.8308 **

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