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EUR/GBP breaks channel support at 0.7165, decline till 0.7050 cannot be ruled out

Wednesday, June 17, 2015 11:50 AM UTC

RES 3: 0.7380 (Support turned into resistance)

RES 3: 0.7272 (55 day 4 H EMA)

RES 2: 0.7236 (200 day 4HMA)

RES 1: 0.7184 (7 day H EMA)

PRICE: 0.7162 @11:50 GMT

SUP 3: 0.7165 (resistance turned into support)
SUP 4: 0.7115
SUP 4: 0.7050 (May 26^th low)
SUP 4: 0.700

EUR/GBP has broken major support 0.7165 and this confirms short term weakness, decline till 0.7050 cannot be ruled out

The pair's minor support is around 0.7115 and break below will drag the pair further down till 0.7050/0.7000.

It is good to sell on rallies around 0.7180 with stop around 0.7240 for the target of 0.7080/0.7050.

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EUR/GBP breaks channel support at 0.7165, decline till 0.7050 cannot be ruled out

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