The EURGBP maintained a bearish momentum last week , bottomed at the 0.8245 levels and topped at the 0.8392 levels . As a result , outlook in EURGBP turns neutral .
On the upside , a consolidation – stability – above the 0.8245 levels could mean a return to the 0.8328 levels , a break would recapture the 0.8400 levels , a halt could be seen , but a breach would open 0.8440 next , further upside will aim the 0.8500 levels.
On the downside , a clear break below the 0.8245 level will suggest short term topping and open 0.8200 levels ahead of 0.8157 levels before the next possible rise , below the 0.8157 levels will extend losses towards the 0.8050/0.8000 levels…
In all , the EURGBP is likely to consolidate within 0.8250/0.8400 range before the next move….