EUR/GBP may fall 21 - 31 pips

Our pivot point stands at 0.8342.

Our preference

The downside prevails as long as 0.8342 is resistance.

Alternative scenario

Above 0.8342, look for 0.8359 and 0.8370.

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 0.8329 and 0.8330).

Supports and resistances

0.8370 **

0.8359 *

0.8342 **

0.8335

0.8327 last

0.8306

0.8296 **

0.8285 *

0.8275 **

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