EURGBP (0.8880): The EURGBP which posted strong gains on Thursday on the back of the BoE’s rate hike was seen giving up some of the gains. EURGBP could be seen pushing lower as price action approaches the breached resistance and support level near 0.8867 – 0.8857. Establishing support at this level will suggest renewed bullish momentum to the upside. The next main target for EURGBP comes in at 0.9016. However, in the event that EURGBP slips below 0.8857, the bias could turn bearish as EURGBP risks pulling down lower towards 0.8778.
