EUR/GBP may fall 11 - 16 pips

0.8456 is our pivot point.

Our preference

Target 0.8430.

Alternative scenario

Above 0.8456, look for 0.8465 and 0.8470.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (0.8452) but above its 50 period moving average (0.8444).

Supports and resistances

0.8470 **

0.8465 *

0.8456 **

0.8452

0.8446 last

0.8435

0.8430 **

0.8424 *

0.8419 **

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