EUR/GBP may rise 21 - 31 pips

Our pivot point is at 0.8331.

Our preference

The upside prevails as long as 0.8331 is support.

Alternative scenario

The downside breakout of 0.8331 would call for 0.8314 and 0.8304.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.8333 and 0.8338).

Supports and resistances

0.8399 **

0.8389 *

0.8378 **

0.8368

0.8347 last

0.8338

0.8331 **

0.8314 *

0.8304 **

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