EURGBP: Remains On The Offensive, Extend Bullishness

26 August 2017, 03:03

EURGBP- The cross continues to hold on to its upside pressure closing strongly higher the past week and opening the door for more strength. Support lies at the 0.9200 level where a violation will turn focus to the 0.9150 level. A break will expose the 0.9100 level. Resistance resides at the 0.9250 level where a violation if seen will turn risk towards the 0.9300 level. Further up, resistance resides at 0.9350 level followed by the 0.9400 level. Its weekly RSI is bullish and pointing higher suggesting further upside pressure. All in all, EURGBP remains biased to the upside in the medium term.

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