EURGBP (0.8920): The EURGBP posted a strong rebound yesterday as price rallied to a 4-day high. With price action breaking past the 0.8867 – 0.8850 minor resistance level we expect further upside gains to continue. In the near term, any declines are likely to be supported near 0.8867 – 0.8850 price level that could turn to support. In such a case, the next upside target in EURGBP will be near 0.9016 level which was previously tested. While the bias remains to the upside, EURGBP could be seen moving back into a range if price falls below 0.8850 support. This could keep the sideways price action intact and will see the EURGBP testing the lower support near 0.8778
