EURGBP - Breaks Through The 0.8716 Level, Targets The 0.8800 Level

EURGBP - With EURGBP breaking through the 0.8716 level, its year-to-date high on a strong rally, further upside offensive is expected. Price extension looks to recapture the 0.8800 level, its psycho level and then the 0.8850 level followed by the 0.8900 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support is seen at the 0.8716 level where a reversal of roles as support is expected to and turn the cross higher. However, if this level fails to hold, EURGBP will target the 0.8600 level followed by the 0.8550 level. Further down, support comes in at the 0.8446 level. All in all, the cross remains biased to the upside medium term.