EURGBP faces further bear threats as it looks to extend its broader medium term downtrend in the days ahead. On the downside, support stands at the 0.8600 level where a violation will turn focus to the 0.8550 level. A break below here will aim at the 0.8500 level. Its daily RSI is bearish and pointing lower suggesting more decline. Conversely, resistance lies at the 0.8650 level. A violation if seen will turn risk towards the 0.8700 level. Further up, resistance comes in at 0.8800 level followed by the 0.8850 level. All in all, EURGBP remains biased to the downside on further bear threats.
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