Euro vs. Great British Pound (2010-08-27)

By @ibtimes on

Morning Report

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eurgbp27

The pair's attempts to breach the main channel's resistance provide a valid prove for an upside trend. The stochastic and the RSI oscillators is still showing an upside curve on the daily scale, encouraging an expectation that the pair will accomplish, breach and stabilize trading above the main resistance at 0.8215, accordingly, we expect an upside trend for the remainder of today.

The trading range for today is among the key support at 0.8060 and key resistance now at 0.8315.

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

Support0.81800.81400.81050.80800.8060Resistance0.82150.82350.82550.82950.8315RecommendationBased on the charts and explanations above, our opinion is buying the pair around 0.8180 targeting 0.8290 and stop loss below 0.8100 might be appropriate this week

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