Euro vs. Great British Pound (2011-02-21)

By @ibtimes on

Midday Report

The pair is presently challenging the resistance line, which dominated the movements from D point. As we discussed earlier, the bearish effect of our caught double top Gartley pattern is still in favor, targeting 0.8330, followed 0.8235 to meet the extended technical objectives of the pattern but we need a breakout below 0.8355 zones to confirm this harmonic scenario.

The trading range for today is among the key support at 0.8330 and key resistance now at 0.8515.

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

Weekly Report

Support0.84000.83800.83550.83300.8295Resistance0.84450.84850.85150.85400.8565RecommendationOur weekly recommendations remain valid

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