Following are expected trading ranges and outlook for EUR/GBP today:

EUR/GBP - to trade with bullish bias, supported by receding worries over European debt crisis.

Daily chart positive-biased as MACD & stochastics in bullish mode; 5-day moving average staged bullish crossover against 15-day MA.

Resistance at 0.8376 (Jan. 13 high); breach would expose upside to 0.8410 (Dec. 30 high), then 0.8422 (Dec. 29 high reaction high), 0.8442 (55-day moving average), 0.8480 (Dec. 13 high, near previous base set Nov. 10) and 0.8561 (De. 9 minor reaction high).

Support at 0.8322 (yesterday's low), then at 0.8299 (Wednesday's low); breach would expose downside to 0.8259-0.8252 band (Tuesday's low-Monday's low), then 0.8236 (Jan. 11 low), 0.8218 (Jan. 9 16-month low) and 0.8200 (Sept. 8, 2010 low).