EURGBP Bull Momentum Stalls Ahead Of 0.8000


EURGBP- Although the cross remains biased to the upside, it faces a move lower on correction on loss of upside momentum. However, with a loss of upside momentum seen on Friday (see daily chart) Support comes in at 0.7700 level.

Further down, support lies at the 0.7650 level where a violation will turn focus to the 0.7500 level. A break will expose the 0.7450 level. On the upside, resistance lies at the 0.7800 level where a violation if seen will turn risk towards the 0.7840 level. On further upside, the 0.7880 level comes in as the next upside target followed by the 0.7920 level. All in all, the cross remains biased to the downside below key resistance zone.


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