Midday Report

eurgbp

The pair declined and completed the mentioned pattern, as it settled for the base at 0.9140 without extending towards 0.9115; and from the former level the pair started the bearish wave which acquired the breach to the bearish pattern's neckline. The pair now has to retest this neckline to relief Stochastic from oversold areas and then continue the corrective downside move for the rest of today's trading.

The trading range is among the key support at 0.8965 and key resistance now at 0.9340.

The general trend is to the upside as far as 0.8020 area remains intact with targets at 1.0000 followed by 1.0400 levels.

Morning Report

Support0.90300.90000.89800.89650.8915
Resistance0.90500.90950.91150.91450.9175
RecommendationBased on the charts and explanations above our opinion is selling the pair at 0.9050 targeting 0.8980 and stop loss above 0.9095 might be appropriate