Euro vs. Great British Pound (2010-07-22)

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Despite the decline seen yesterday, the pair did not trade below 0.8375 and did not reach areas below 0.8335; therefore, we hold onto yesterday's expectations and recommend reviewing the details in the report. Today, we expect volatility and fluctuations, yet in general the stability of the support area mentioned keeps the expectations intact.

The trading range for today is among the key support at 0.8295 and key resistance now at 0.8605.

The general trend over short term basis is to the downside targeting 0.7780 as far as areas of0.8965remain intact.

Previous Report

Weekly Report

Support0.84000.83750.83550.83350.8295Resistance0.84250.84750.85000.85600.8605RecommendationBased on the charts and explanations above, our opinion is buying the pair around 0.8380 targeting 0.8685 and stop loss below 0.8335 might be appropriate