EURGBP may rise 33 - 49 pips
Our preference
The upside prevails as long as 0.8503 is support.
Alternative scenario
The downside breakout of 0.8503 would call for 0.8478 and 0.8463.
Comment
The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8523 and 0.8509). Finally, the EUR/GBP is trading above its upper Bollinger band (standing at 0.8541).
Our preference
The upside prevails as long as 0.8503 is support.
Alternative scenario
The downside breakout of 0.8503 would call for 0.8478 and 0.8463.
Comment
The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8523 and 0.8509). Finally, the EUR/GBP is trading above its upper Bollinger band (standing at 0.8541).