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EURGBP- With EURGBP extending its weakness through the 0.8000 level during Friday trading session, further downside threats are likely. On the downside, support resides at the 0.7960 level where a breach will turn focus to the 0.7922 level.

Further down, a break of that level will set the stage for a run at the 0.7900 level where a breather may occur and turn the cross higher.

Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance resides at the 0.8051 level where a break will target the 0.8080 level. A break of the 0.8080 level will turn attention to the 0.8100 level followed by the 0.8150 level. All in all, the cross remains biased to the downside in the medium term.

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Guest post by FX Tech Strategy