EUR/GBP may fall 10 - 15 pips

0.8510 is our pivot point.

Our preference

The downside prevails as long as 0.8510 is resistance.

Alternative scenario

Above 0.8510, look for 0.8519 and 0.8524.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.8509 and 0.8513). Finally, the EUR/GBP has penetrated its lower Bollinger band (0.8501).

Supports and resistances

0.8524 **

0.8519 *

0.8510 **

0.8507

0.8500 last

0.8490

0.8485 **

0.8480 *

0.8475 **

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