EURGBP- Having reversed its intra day losses to close slightly higher on a rejection candle on Monday, bull pressure now builds up on resistance zone at 0.7250. On the upside, resistance lies at the 0.7240 level where a violation if seen will turn risk towards the 0.7280 level. Further out, the 0.7320 level comes in as the next upside target followed by the 0.7360 level. On the downside, support stands at the 0.7160 level where a violation will push it lower towards the 0.7120 level. Further down, support lies at the 0.7080 level where a violation will turn focus to the 0.7050 level. A break will expose the 0.7000 level. All in all, the cross remains biased to the upside in the short term as bull pressure now builds up on resistance zone at 0.7250.
25th April 2016
EURGBP: Bull Pressure Now Builds Up On Resistance Zone
