EURGBP- With the cross facing downside pressure despite its broader medium term uptrend, further bear threat is a concern. Support comes in at the 0.8550 level with a cut through there turning focus to the 0.8500 level.
Further down, support lies at the 0.8450 level and then the 0.8400 level. Its daily RSI is bearish suggesting further downside pressure.
Conversely, to re-start its medium term uptrend, it will have to return above the 0.8766 level to annul its bear threats.
Further out, resistance resides at the 0.8800 level followed by the 0.8850 level. All in all, the cross remains biased to the downside.
Guest post by FX Tech Strategy
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