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EUR/GBP breaks major trend line support 0.7290, decline till 0.7150 cannot be ruled out

RES 4: 0.7435 RES 3: 0.7380 (Apr 3rd High) RES 2: 0.7340 (20 day 4HMA) RES 1: 0.7310 (200 day 4HEMA) PRICE: @ GMT SUP 1: 0.7260 (200 day 4HMA) SUP 2: 0.7220 (31st Mar low) SUP 3: 0.7150 (61.8% retracement of 0.70130 and …

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  • RES 4: 0.7435

  • RES 3: 0.7380 (Apr 3rd High)   

  • RES 2: 0.7340 (20 day 4HMA)

  • RES 1: 0.7310 (200 day 4HEMA)

      PRICE:  @ GMT 

  • SUP 1: 0.7260 (200 day 4HMA)

  • SUP 2: 0.7220 (31st Mar low)

  • SUP 3: 0.7150 (61.8% retracement of 0.70130 and 0.7385)

  • SUP 4: 0.7082 (Mar 15th low)

EUR/GBP has retreated after making a double top around 0.7380. Overall trend is bearish as long as resistance 0.7380 holds.

It is good to sell on rallies around 0.7320 for the target of 0.7160 with stop around 0.7380.

 

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