EUR/GBP Closes Lower On Higher Price Rejection

EUR/GBP: The cross closed lower the past week after rejecting higher prices. This development now leaves risk lower as we enter a new week. Support lies at the 0.8700 level where a violation will turn focus to the 0.8650 level. A break will expose the 0.8600 level. Resistance resides at the 0.8800 level where a violation if seen will turn risk towards the 0.8850 level. Further up, resistance resides at 0.8900 level followed by the 0.8950 level. All in all, EUR/GBP remains biased to the downside on price rejection.


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