Morning Report

eurgbp09

Not breaching 0.8445 abates the possibility of the bullish pattern, yet the pair is heading to retest the main resistance which was previously breached for the descending channel. Hence, we are waiting for the start of the upside move today and the possibility remains valid with trading above 0.8330, which is 76.4% correction for the bullishness on August 23 till October 25.

The trading range for today is among the key support at 0.8210 and key resistance now at 0.8550.

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

Support0.83700.83300.82950.82450.8210
Resistance0.84000.84450.84800.85000.8550
RecommendationBased on the charts and explanations above, our opinion is buying the pair around 0.8330 targeting 0.8480 and stop loss below 0.8245 might be appropriate