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EURGBP- Bearish, Extends Weakness

EURGBP- With EURGBP continuing to hold on to its downside pressure and declining further during Friday trading session, more downside pressure cannot be ruled out. On the downside, support lies at the 0.7200 level where a break will expose the 0.7150 level. Further down, support comes in at the 0.7100 level where a violation will turn attention to the 0.7050 level. On the upside, resistance lies at the 0.7300 level where a violation if seen will turn focus to the 0.7350 level. On further upside, a breach of the 0.7400 level will set the stage for a run at the 0.7450 level. All in all, risk points lower on more weakness.

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