EUR/GBP may rise 12 - 17 pips

Our pivot point stands at 0.8445.

Our preference

As long as 0.8445 is support look for 0.8470.

Alternative scenario

The downside breakout of 0.8445 would call for 0.8436 and 0.8430.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8449 and 0.8440).

Supports and resistances

0.8481 **

0.8476 *

0.8470 **

0.8465

0.8453 last

0.8448

0.8445 **

0.8436 *

0.8430 **

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