EURGBP: Sets Up To Resume Weakness

22 July 2016, 03:15
FXTechstrategy
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EURGBP- The cross looks to weaken further following its Thursday declines after taking back all of its intra day gains. Resistance resides at the 0.8400 level where a violation if seen will turn risk towards the 0.8450 level. On further upside, the 0.8500 level comes in as the next upside target followed by the 0.8550 level. Support comes in at 0.8300 level. Further down, support lies at the 0.8250 level where a violation will turn focus to the 0.8300 level. A break will expose the 0.8200 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, EURGBP remains bearish on price weakness.

 


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