with the recent Euro advances coming to a stop, it is time to take a short with the GBP, and the main reason for that is expectations of the BOE to raise rates before ECB. Recent developments in Euro zone area do not go in favor of Euro ( Portuguese downgrade, after Spain, and Ireland), and inflation in England is much higher than some of it's members would like it. From technical perspective the pair is just on multi-week resistance trendline at 0.08790. Close above this level on the weekly chart could open the door to further advancements, but with fundamental factors trend-line resistance should hold, and more downward pressure should be come in April. Stops are placed at 0.8980 and above, and target should be placed at 0.8615, and bellow.
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