EURGBP- The cross turned higher annulling almost all of its two-day declines and opening the door for more upside risks. This leaves the possibility of a return to the 0.8112/19 levels on the cards. A clearance of here will open the door for a run at the 0.8154 level and then the 0.8200 level. Its daily RSI is bullish and pointing higher supporting this view. Alternatively, support lies at the 0.8020 level where a violation will set the stage for a move further lower towards the 0.7950 level. Further support lies at the 0.7890 level. A cap is likely to occur and turn it higher. However, if here fails, further downside could develop further towards the 0.7811 level followed by its key support located at 0.7761. All in all, the cross remains biased to the in the short.
