$EURGBP - preparing for test of 0.88 level

Tracking risk appetite across bipolar asset markets

TUESDAY JULY 9, 2013       10:40:00 GMT

The daily chart for EUR/GBP indicates that the euro has moved above a resistance level and would appear to be headed for a re-test of the 0.88 level. In anticipation of a struggle to break through the 0.88 barrier a target of 0.8770 would be suggested which represents about 120 pips above current levels.