EUR/GBP- The cross took back all of its previous week gains to close lower the past week. This development leaves risk lower in the new week. Support comes in at 0.7700 level. Further down, support lies at the 0.7650 level where a violation will turn focus to the 0.7600 level. A break will expose the 0.7550 level.
On the upside, resistance lies at the 0.7750 level where a violation if seen will turn risk towards the 0.7800 level. On further upside, the 0.7950 level comes in as the next upside target followed by the 0.8000 level. All in all, the cross remains biased to the downside on pullback.
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