Morning Report

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The royal pair is still moving within a very tight range since morning. It is still moving freely below the neckline of the suggested bearish technical pattern that we discussed several times before. We keep the negative classical overview over intraday basis. A break of 0.8255 could accelerate this possible scenario, while areas of 0.8400 should hold to keep it valid.

The trading range for today is among the key support at 0.8140 and key resistance now at 0.8420.

The general trend over short term basis is to the downside, targeting 0.7780 as far as areas of0.8965remain intact.

Weekly Report

Previous Report

Support0.82550.82250.82050.81800.8140
Resistance0.83050.83150.83550.83800.8400
RecommendationBased on the charts and explanations above our opinion is, selling the pair around 0.8295 targeting 0.8185 and stop loss above 0.8375 might be appropriate.