EURGBP (0.8811): The EURGBP extended the declines yesterday as price breached past the support level at 0.8867 – 0.8857 level. This indicates continued decline with the next support at 0.8778 likely to be tested. Any short-term bounces are expected to be contained near the 0.8867 – 0.8857 level which could now act as resistance. However, a higher low being formed near the support of 0.8778 could suggest another move to the upside, provided the resistance level can be breached.
