EUR/GBP may rise 11 - 16 pips

0.8512 is our pivot point.

Our preference

The upside prevails as long as 0.8512 is support.

Alternative scenario

The downside breakout of 0.8512 would call for 0.8504 and 0.8499.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.8515 and 0.8512).

Supports and resistances

0.8545 **

0.8540 *

0.8535 **

0.8530

0.8519 last

0.8515

0.8512 **

0.8504 *

0.8499 **

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