EUR/GBP may fall 16 - 24 pips

Our pivot point is at 0.8526.

Our preference

The downside prevails as long as 0.8526 is resistance.

Alternative scenario

Above 0.8526, look for 0.8538 and 0.8545.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.8516 and 0.8517).

Supports and resistances

0.8545 **

0.8538 *

0.8526 **

0.8521

0.8516 last

0.8500

0.8492 **

0.8485 *

0.8478 **

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