EURGBP- With EURGBP halting its weakness and triggering corrective recovery higher, the risk is for more strength to occur. Immediate upside target resides at the 0.8397 level where a breach will set the stage for a run at the 0.8450 level and subsequently the 0.8500 level, its psycho level. Its daily RSI is bullish and pointing higher supporting this view. On the other hand, support comes in at the 0.8328 level where a break will expose the 0.8300 level. Further down, support lies at the 0.8247 level where a violation will pave for a move towards the 0.8197 level. A turn below here if seen will open the door for a return to the 0.8157 level, its Feb 17 2014 low. All in all, the cross has halted its weakness and now looks to extend that strength.
Article by www.fxtechstrategy.com