Morning Report

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eurgbp

The pair moved to the upside according to our scenario yesterday yet we do not favor the upside wave strongly for today due to the negative crossover on Stochastic and the pair's inability of stabilizing above 0.8460-0.8475; therefore, we remain neutral for now and rescind yesterday's expectations while exiting the positions above 0.8430 awaiting more confirmations.

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

Support0.8400 0.8375 0.83550.83350.8295 Resistance0.84750.8500 0.8560 0.86050.8685 RecommendationBased on the charts and explanations above we remain neutral awaiting further confirmations