Morning Report

eurgbp01_03_2012

The pair declined sharply yesterday, closing the session below the main support of the upside move shown above. Therefore, we remain neutral today observing the pair's behavior around the critical levels of 0.8435 and 0.8365 in order to confirm the pair's next destination.

The trading range for today is among the major support at 0.8275 and the major resistance at 0.8505.

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

Previous Report

Weekly Report

Support0.83400.82950.82550.82000.8170
Resistance0.84350.85000.85500.86050.8660
RecommendationBased on the charts and explanations above, we remain neutral awaiting more confirmations