Euro vs. Great British Pound (2010-03-26)

We don't need more confirmation for our yesterday's suggested bullish scenario to be added to the clear bullish candlestick structure of yesterday. The royal pair might continue to move upwards over intraday basis, supported by the positive signs appearing on indicators and we still believe that, the CD leg of the harmonic formation still has northern targets to be reached.

The trading range is among the key support at 0.8790 and key resistance now at 0.9115.

The general trend over short term basis is to the upside, targeting 0.9720 as far as areas of 0.8400 remain intact.

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Support0.89600.89350.89050.88600.8830Resistance0.90000.90300.90700.91150.9140RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8960 targeting 0.9070 and stop loss below 0.8885 might be appropriate.