EURGBP- With EURGBP surging higher and holding above its key resistance at the 0.8101 level, a temporary bottom is now forming. This if seen will push the cross further higher towards the 0.8134 level and then the 0.8250 level. Further out, the 0.8423 level comes in as the next upside target with a breach aiming at the 0.8504 level, its Feb 2012 high. Its daily RSI is bullish and pointing higher supporting its present corrective attempts. On the downside, a return to the 0.7949 level is required to reverse its present upside and turn risk towards the 0.7840 level. All in all, the cross continues to build on its recovery offensive though still holding on to its broader medium term downside bias.
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