EURGBP Sees Hesitation !

The EURGBP maintained a bullish momentum 2 days ago , bottomed at the 0.8200 levels and topped at the 0.8300 levels.Now pressure will be on the key resistance 0.8300.

The EURGBP will have to hold above the 0.3300 levels on a daily closing basis to push the market for further upside gains ,If seen It will target the 0.8340 levels , a halt is suggested and seller may come here to dominate the market , but break of 0.8340 will turn focus on the 0.8390 levels , further out will aim the 0.8465 levels.

Alternatively , a failure to hold above the 0.8300 levels could mean a return to the 0.8200 levels , a halt is suggested but losing the 0.8200 levels would reverse risks to the downside towards 0.8167 where a breach will turn focus on the 0.8100 levels.

In all , the EURGBP  is likely to retain to its medium term upside bias as long as support 0.8200 holds on a daily closing basis , below this level will resume the long term bearish trend.

Support & resistance : 0.8048 , 0.8144 ,0.8167, 0.8200 (Pivot) , 0.8300 , 0.8340 , 8390 , 8465


EURGBP Sees Hesitation !