Euro vs. Great British Pound (2012-02-06)

By @ibtimes on

Weekly Report

eurgbp06_02_2012

The pair is still stable below the previously breached support level of the minor channel and also within the descending main channel shown above, while SMA 50 pressures the pair over intraday basis. Therefore, our negative expectations remain valid this week, targeting 0.8170 and then 0.8100, while consolidation below 0.8415 is required.

The trading range for this week is among the major support at 0.8100 and the major resistance at 0.8415.

The short-term trend is to the upside as far as 0.8170 remains intact, targeting 1.0370.

Previous Report

Weekly Report

Support0.82550.82000.81700.81000.8065Resistance0.83400.84150.84400.84800.8550Recommendation

Join the Discussion