EUR/GBP may rise 11 - 17 pips

0.8420 is our pivot point.

Our preference

Rebound towards 0.8445.

Alternative scenario

The downside breakout of 0.8420 would call for 0.8411 and 0.8406.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.8430 and 0.8436).

Supports and resistances

0.8455 **

0.8450 *

0.8445 **

0.8439

0.8428 last

0.8424

0.8420 **

0.8411 *

0.8406 **

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