EUR/GBP may rise 17 - 25 pips

0.8450 is our pivot point.

Our preference

The upside prevails as long as 0.8450 is support.

Alternative scenario

The downside breakout of 0.8450 would call for 0.8437 and 0.8429.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8454 and 0.8447).

Supports and resistances

0.8500 **

0.8492 *

0.8485 **

0.8477

0.8460 last

0.8454

0.8450 **

0.8437 *

0.8429 **

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