EURGBP- With a follow through lower occurring on Thursday, risk of further weakness is now expected towards the 0.8726 level, marking its Aug 24’2011 low. A turn below there will allow for further weakness towards the 0.8694 level and possibly lower towards the 0.8610 level, its May 26’2011 low. Its daily RSI has turned lower supporting this view. On the upside, the cross will have to break and hold above the 0.8885 level to set the stage for further strength towards the 0.9083 level, its Jun 01’2011 high. Further out, resistance lies at the 0.9150 level, its Feb’2010 high followed by its channel top at 0.9230. (full story)