Morning Report

eurgbp30_03_2012

The royal pair build a base on the support level of the ascending channel shown above, which supports our positive expectations to prevail over intraday basis. The pair should breach the level of 0.8365 in order to achieve the targets which start at 0.8460.

The trading range for today is among the major support at 0.8255 and the major resistance at 0.8500.

The short-term trend is to the upside as far as 0.7785 remains intact, targeting 1.0370.

Previous Report

Weekly Repor

Support0.83350.82550.82000.81700.800
Resistance0.83650.83950.84600.85550.8610
RecommendationBased on the chart and explanations above, our opinion is buying the pair around 0.8335, targeting 0.8460 and stop loss below 0.8255 might be appropriate.