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EURO-STERLING TECHS: Back Above 0.87
Despite reclaiming the 0.87 handle, EURGBP has failed to build and keeps focus
on the downside. Bears initially target the Jan 25 ytd low at 0.8618, before
challenging the 0.86 level. A break below here would suggest a major topping
pattern has been triggered. Bulls need a weekly close above 0.87 to improve the
outlook and target prior range lows around 0.8750. Above here would bring the
0.88 level back into focus, ahead of the 100 & 200-dma's at 0.8849/63.