EUR/GBP may rise 10 - 15 pips

0.8511 is our pivot point.

Our preference

The upside prevails as long as 0.8511 is support.

Alternative scenario

The downside breakout of 0.8511 would call for 0.8502 and 0.8497.

Comment

The RSI is above its neutrality area at 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 0.8516 and 0.8516). Finally, the EUR/GBP has crossed above its upper Bollinger band (0.8521).

Supports and resistances

0.8546 **

0.8541 *

0.8536 **

0.8531

0.8521 last

0.8514

0.8511 **

0.8502 *

0.8497 **

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