EUR/GBP may fall 12 - 17 pips

Our pivot point is at 0.8455.

Our preference

The downside prevails as long as 0.8455 is resistance.

Alternative scenario

Above 0.8455, look for 0.8464 and 0.8470.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.8447 and 0.8448).

Supports and resistances

0.8470 **

0.8464 *

0.8455 **

0.8452

0.8447 last

0.8435

0.8430 **

0.8425 *

0.8419 **

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