EURGBP- With EURGBP breaking and hold above its key resistance at the 0.8409/21 levels, further bullish offensive is set to continue. In such a case, the 0.8485 level will be aimed at. We may see a reversal of roles as resistance at this level thus turning the cross back down. However, if a cut through that level occurs, its Dec 08’2011 high at 0.8560 will be targeted with a breach exposing the 0.8616 level. Its daily RSI is bullish and pointing higher supporting this view. Alternatively, on any pullbacks, the 0.8409/21 levels will come in as the immediate support where a reversal of roles as support is likely to occur. Further down, support comes in at the 0.8263 level where a breach will target its Aug’2010 low at 0.8141. Further down, support comes in at its 2010 low at 0.8066 level. All in all, the cross continues to target higher prices having violated its key resistance zone at the 0.8409/21
