Morning Report

eurgbp22

The pair is trading within a narrow range above 0.8835 and resisting the negativity on Stochastic,this proves that the pair is affected by the bullish 0-5 pattern, although the pattern is not ideal, it proved reliability and we can rely on it. Stability above 0.8835 increase the possibility of an upside move for today

Trading range for the day is among the major support at 0.8750 and the major resistance at 0.9040

The short term trend is to the downside as long as 0.8965 holds targeting 0.7780

Previous Report

Weekly Report

Support0.88500.88200.88000.87950.8750
Resistance0.88700.89000.89650.90000.9040
RecommendationBased on the charts and explanations above our opinion is buying the pair around 0.8850 targeting 0.9040 and stop loss below 0.8750 may be appropriate for today.