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EURGBP- Eyes More Downside Pressure

EURGBP- Having weakened further on sell on Monday and followed through lower today, risk of further decline is expected. On the downside, support lies at the 0.7050 level where a break will expose the 0.7000 level. Further down, support comes in at the 0.6950 level where a violation will turn attention to the 0.6900 level. On the upside, resistance lies at the 0.7150 level where a violation if seen will turn focus to the 0.7200 level. On further upside, a breach of the 0.7250 level will set the stage for a run at the 0.7300 level. All in all, risk points lower on more weakness.

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