EURGBP- With EURGBP stopping its weakness and turning higher the past week, further recovery is envisaged in the new week.
On the upside, resistance lies at the 0.8000 level followed by the 0.8050 level where a violation if seen will turn focus to the 0.8100 level. On further upside, a breach of the 0.8100 level will set the stage for a run at the 0.8150 level and subsequently the 0.8200 level.
On the downside, support lies the 0.7950 level where a break will expose the 0.7900 level. Further down, support comes in at the 0.7850 level where a violation will turn attention to the 0.7800 level. All in all, the cross is biased to the downside in the medium term.
Guest post by FX Tech Strategy
