Morning Report

eurgbp13_04_2012

The pair is reflecting a slight positive bias since yesterday aiming at the retest of 0.8290 areas, while the positivity on Stochastic supports the upside move. In general, we hold onto our intraday bearish expectations for today targeting 0.8170 and 0.8100 while stability below 0.8290 is required for our expectations to prevail.

The trading range for today is expected among the key support at 0.8100 and the key resistance at 0.8290.

The short term trend is to the upside as far as 0.7785 remains intact with targets at 1.0370.

Previous Report

Weekly Report

Support0.82000.81700.81000.80750.8000
Resistance0.82900.83250.83650.83950.8470
RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.8290 targeting 0.8170 and 0.8100 and stop loss with four-hour closing above 0.8355 might be appropriate