Morning Report

eurgbp

Since ending the second bearish wave -review yesterday's report- it is now very likely to witness and upside move; Stochastic provided and upside crossover supporting the expectations and returning to the upside to continue the expected IM wave, by forming the third wave as shown on the chart above.

The trading range for today is expected among the key support at 0.8635 and the key resistance at 0.8905.

The short term trend is to the upside as far as 0.8400 remains intact with targets at 0.9720.

Previous Report

Weekly Report

Support0.87600.87200.87000.86650.8635
Resistance0.87700.87950.88100.88650.8905
RecommendationBased on the charts and explanations above our opinion is buying the pair from 0.8760 targeting 0.8865 and stop loss below 0.8700 might be appropriate