Morning Report

eurgbp11

The pair's movement is limited in a tight range below the main support of the minor upside move, within the descending channel as shown above. We recognize a minor resistance -shown above in pink- around EMA 50, where any trading below this resistance at 0.8345 might trigger more bearishness today, A breach of 0.8170 might help the suggested downside movement to prevail.

The trading range for today is among the major support at 0.8100 and the major resistance at 0.8345.

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

Previous Report

Weekly Report

Support0.82000.81700.81000.80750.8000
Resistance0.82900.83450.83650.83950.8495
RecommendationBased on the chart and explanations above, our opinion is selling the pair around 0.8290, targeting 0.8170 and 0.8100 and stop loss with 4-hour closing above 0.8355 might be appropriate