Morning Report

eurgbp10

The pair lost the downside momentum and that prevents the retest of 0.8330 areas before resuming the bullishness. We can see on the chart above that the pair is attempting to start a new bullish wave after it retested the previously breached resistance. Therefore, we expect the pair to move to the upside today as far as areas of 0.8330 remain steady.

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.

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Weekly Report

Support0.83700.83500.83300.82950.8210
Resistance0.84150.84450.84800.85000.8550
RecommendationBased on the charts and explanations above, our opinion is buying the pair around 0.8370 targeting 0.8500 and stop loss below 0.8295 might be appropriate