Euro vs. Great British Pound Mid-day Report (2009-09-07)

on September 07 2009 7:00 AM

Mid-day report

The royal pair is trapped between two key points 0.8720 and 0.8760, but still supported above 61.8% Fibonacci expansion and 38.2% Fibonacci Arc as seen on the above four-hour chart. So that, we keep our overview to the upside for the rest of the day while being supported by the positive sign seen on AC indicator

The trading range is among the key support at 0.8585 and key resistance now at 0.8905.

The general trend is to the upside as far as 0.8020 area remains intact with targets at 1.0000 followed by 1.0400 levels.

Support0.87200.87000.86600.86150.8585Resistance0.87650.87900.883088900.8935RecommendationOur morning expectation is still valid

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