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EUR/GBP: Tumbles, Continues To Retain Its Downside Pressure

EUR/GBP: Tumbles, Continues To Retain Its Downside Pressure

EUR/GBP: The cross continues to hold on to its downside pressure selling off on Thursday and opening the door for more weakness. Support lies at the 0.8850 level where a violation will turn focus to the 0.8800 level. A break will expose the 0.8850 level.

Resistance resides at the 0.8900 level where a violation if seen will turn risk towards the 0.8950 level. Further up, resistance resides at 0.9000 level followed by the 0.9050 level. Its daily RSI is bearish and pointing lower suggesting more weakness. All in all, EUR/GBP remains biased to the downside on further weakness

EUR/GBP Daily Chart

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