EUR/GBP may rise 22 - 32 pips

0.8331 is our pivot point.

Our preference

As long as 0.8331 is support look for 0.8377.

Alternative scenario

The downside breakout of 0.8331 would call for 0.8314 and 0.8303.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.8344 and 0.8328).

Supports and resistances

0.8398 **

0.8388 *

0.8377 **

0.8367

0.8345 last

0.8338

0.8331 **

0.8314 *

0.8303 **

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