EURGBP: Puts In Temporary Bottom, Recovers Higher

EURGBP- With the pair recovering strongly on Wednesday, further price strength is likely. Resistance resides at the 0.8500 level where a violation if seen will turn risk towards the 0.8550 level. On further upside, the 0.8600 level comes in as the next upside target followed by the 0.8650 level. Its daily RSI is bullish and pointing higher suggesting more strength. Support comes in at 0.8400 level. Further down, support lies at the 0.8350 level where a violation will turn focus to the 0.8300 level. A break will expose the 0.8250 level. All in all, EURGBP remains biased to the upside on corrective recovery.