EURGBP Weakened Further On Sell-Off, Targets 0.8750 Zone

EURGBP weakened further on sell-off on Friday to end lower for two consecutive weeks. This leaves risk lower in the new week.

Support stands at the 0.8750 level where a violation will turn focus to the 0.8700 level. A break will aim at the 0.8650 level. Its daily RSI bearish and pointing lower suggesting further weakness.

Conversely, resistance resides at the 0.8850 level where a violation if seen will turn risk towards the 0.8900 level. Further up, resistance comes in at 0.8950 level followed by the 0.9000 level.

All in all, EURGBP remains biased to the downside on more decline.