EURGBP- With the cross remaining on the offensive, we look for more strength to build up. While it holds above the 0.7360 zone, expect more strength possibly towards the 0.7482/0.7500 region. On the upside, resistance lies at the 0.7450 level where a violation if seen will turn risk towards the 0.7500 level.
On further upside, the 0.7550 level comes in as the next upside target followed by the 0.7600 level. Conversely, support lies at the 0.7350 level where a violation will turn focus to the 0.7300 level. A break will expose the 0.7250 level. Further down, support comes in at the 0.7200 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, the cross remains biased to the upside in the short term.
In our latest podcast we explain why the dollar defies the doves
Follow us on Sticher.