EURGBP Closes Lower On Price Weakness

21 January 2016, 02:58
FXTechstrategy Team
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EURGBP- With the cross turning lower on loss of upside momentum on Wednesday, further price weakness is expected. On the upside, resistance lies at the 0.7750 level where a violation if seen will turn risk towards the 0.7800 level. On further upside, the 0.7850 level comes in as the next upside target followed by the 0.7900 level. Its daily RSI is bearish and pointing lower supporting this view. Support comes in at 0.7650 level. Further down, support lies at the 0.7600 level where a violation will turn focus to the 0.7550 level. A break will expose the 0.7500 level. All in all, EURGBP looks for further price weakness on loss of upside momentum.

 


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