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EURGBP- Declines, Faces Further Bear Threats
EURGBP- With the cross declining on Tuesday and following through lower during Wednesday trading session, it faces the risk of further price extension. On the downside, support lies at the 0.7250 level where a break will expose the 0.7200 level. Further down, support comes in at the 0.7150 level where a violation will turn attention to the 0.7100 level. On the upside, resistance lies at the 0.7350 level where a violation if seen will turn focus to the 0.7400 level. On further upside, a breach of the 0.7450 level will set the stage for a run at the 0.7500 level. All in all, the cross is biased to the downside on weakness