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EUR/GBP breaks short term support 0.6980, targets 0.6850

  • RES 1 : 0.7100 (Jul 31st high)

  • RES 2: 0.7075 (200 day 4 HMA)

  • RES 3 :0.7020 (20 day 4 HMA)

  • RES 4: 0.6985 (7 day 4 HEMA)

      PRICE: 0.6960 @ 11:59 GMT 

  • SUP 1: 0.6960 (Jul 22nd low)

  • SUP 2: 0.6928 (138.2% retracement of 0.70545 and 0.73879)

  • SUP 3: 0.6842

  • Sup 4 :0.6787 (161.8% retracement of 0.69295 and 0.71595)

EUR/GBP has broken major support 0.6980 and is trading well below that level. Overall trend is still weak as long as resistance 0.7020 holds.

 The pair's major resistance is around 0.7020 and break above will extend gain till 0.7075/0.7100.

It is good to sell on rallies around 0.6980 with stop around 0.7020 for the TP of 0.6925/0.6850.

 

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