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The royal pair is fluctuating between the pivotal support levels of 0.8865 and 0.8905 since morning but it is still controlled inside the bearish channel as seen on the provided four-hour chart, while Stochastic is approaching overbought areas. Henceforth, the suggested Elliott count is still valid and we still see that, there are chances for achieving possible bearishness over intraday basis.

The trading range is among the key support at 0.8760 and key resistance now at 0.9030.

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

Weekly Report Previous Report

Support0.88650.88300.87900.87600.8720
Resistance0.89050.89350.89650.90000.9030
RecommendationBased on the charts and explanations above our opinion is, selling the pair with a breakout below 0.8865 targeting 0.8740 and stop loss above 0.8960 might be appropriate.