EUR/GBP may rise 16 - 24 pips

Our pivot point stands at 0.8435.

Our preference

As long as 0.8435 is support look for 0.8472.

Alternative scenario

The downside breakout of 0.8435 would call for 0.8421 and 0.8413.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.8446 and 0.8445).

Supports and resistances

0.8489 **

0.8480 *

0.8472 **

0.8464

0.8448 last

0.8440

0.8435 **

0.8421 *

0.8413 **

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