Morning Report


A classical technical pattern appeared on the euro versus pound; heading to the upside within the ascending channel, where itsmain support is at 0.9055 alongside the bullish classical pattern which makes us expect today's intraday move is to be to the upside. Stochastic supports these expectations, which will prevail if trading remains above the neckline for the bullish technical pattern at 0.9044 with four-hour closings.

The trading range for today could be between support 0.8905 and the key resistance at 0.9300.

The general trend is to the upside as far as 0.8020 remains intact with targets at 1.0000 and 1.0400.

RecommendationBased on the charts and explanations above our opinion is buying the pair from 0.9080 targeting 0.9175 and stop loss below 0.9000, might be appropriate