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EURGBP- Corrective Recovery Remains Intact.

EURGBP- Despite the cross’s price hesitation on Thursday, it continues to maintain its corrective recovery outlook triggered off the 0.6950 low on August 05 2015. On the upside, resistance lies at the 0.7200 level where a violation if seen will turn risk towards the 0.7250 level. Further out, the 0.7300 level comes in as the next upside target followed by the 0.7350 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, support lies at the 0.7100 level where a violation will turn focus to the 0.7050 level. A break below here will expose the 0.7000 level. Further down, support comes in at the 0.6950 level. All in all, the cross is biased to the upside on further corrective recovery.

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