Midday report

The royal pair is currently penetrating the uptrend line, getting out of the Keltner bands that may change the intraday outlook if it succeeded to close below while the Stochastic is overlapping negatively. Moreover, the bearish engulfing pattern of the previous four-hour candlestick supports this change in the outlook.

Trading range is among the key support at 0.9000 and key resistance now at 0.9420.

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.

RecommendationBased on the charts and explanations above our opinion is, selling the pair from 0.9205 targeting 0.9100 and stop loss above 0.9280 might be appropriate.