Euro vs. Great British Pound (2010-08-18)

on August 18 2010 6:03 AM

Midday Report

In line with our morning scenario, facing the upper line of the falling wedge forced the royal pair to start the awaited correction but this correction will not prevent the pair from reaching the first technical target of our wedge. Also, the positive divergence is still in favor and still has upside targets to be reached. Hence, we hold onto our morning technical speculations for the rest of eth day.

The trading range for today is among the key support at 0.8140and key resistance now at 0.8380.

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

Morning Report

Weekly Report

Support0.82250.82050.81800.81400.8115Resistance0.82550.82950.83150.83350.8355RecommendationOur morning expectations remain valid.

More News from IBT MEDIA