EURGBP- Unless EURGBP resumes its corrective recovery triggered off the 0.8157 level, the risk is for it to return to the 0.8190 level. Below here if seen will open the door for a return to the 0.8157 level, its Feb 17 2014 low. Further down, support is seen at the 0.8100 level with a turn below here will aim at the 0.8050 level and possibly lower towards the 0.8000 level. Immediate resistance comes in at the 0.8265 level where a break if it occurs will target the 0.8300 level. Further out, resistance stands at the 0.8349 level. Followed by the 0.8385 level, its Jan 15 2014 high where a violation will trigger further upside towards the 0.8400 level, its psycho level and next the 0.8450 level, its psycho level. All in all, the cross remains biased to the downside on further weakness.
Article by www.fxtechstrategy.com