EUR/GBP may rise 11 - 16 pips

0.8442 is our pivot point.

Our preference

The upside prevails as long as 0.8442 is support.

Alternative scenario

The downside breakout of 0.8442 would call for 0.8433 and 0.8427.

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 0.8444 and 0.8435).

Supports and resistances

0.8478 **

0.8473 *

0.8467 **

0.8462

0.8451 last

0.8445

0.8442 **

0.8433 *

0.8427 **

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