EUR/GBP may rise 15 - 23 pips

0.8504 is our pivot point.

Our preference

Rebound towards 0.8537.

Alternative scenario

The downside breakout of 0.8504 would call for 0.8492 and 0.8485.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.8515 and 0.8518).

Supports and resistances

0.8551 **

0.8544 *

0.8537 **

0.8529

0.8514 last

0.8509

0.8504 **

0.8492 *

0.8485 **

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