EUR/GBP intraday: look for a drop towards 0.8391 before a bounce
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Our pivot point is at 0.8391.
Our preference: look for a drop towards 0.8391 before a bounce.
Alternative scenario: below 0.8391, expect 0.8379 and 0.8371.
Comment: the RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8402 and 0.8401).
Supports and resistances:
0.8440 **
0.8433 *
0.8425 **
0.8418
0.8402 last
0.8396
0.8391 **
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