EURGBP- Turns Lower. Trades Below The 0.8597 Level
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EURGBP- The cross sold off on Wednesday failing to retake the 0.8597 level and opening the door for more downside. If its present weakness extends, expect a move lower towards the 8409 level followed by the 0.8363 level. Additionally, support comes in at the 0.8300 level. Conversely, to reverse its downside pressure EURGBP will have to recapture the 0.8597 level. This level must break to convince the market of further upside gains possibly towards the 0.8700 level and then the 0.8750 level. All in all, the cross remains vulnerable.