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EUR/GBP pares it gains in European session, good to buy at dips

RES 3: 0.7590 (Feb 3rd high) RES 2: 0.75380 (50% retracement of 0.8045 and 0.7010) RES 2: 0.7510 RES1 :0.7480 (Today's high) PRICE: 0.74425 @11:30 GMT SUP 1: 0.7426 (100 day MA) SUP2: 0.7380 (Resistance turned into suppo…

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  • RES 3: 0.7590 (Feb 3rd high)

  • RES 2: 0.75380 (50% retracement of 0.8045 and 0.7010)
  • RES 2: 0.7510

  • RES1 :0.7480 (Today's high)

      PRICE: 0.74425 @11:30 GMT 

  • SUP 1: 0.7426 (100 day MA)

  • SUP2: 0.7380 (Resistance turned into support)

  • SUP 2:0.7356 (7 day EMA)

  • Sup 3: 0.7315 (May 5th low)

EUR/GBP has formed double top around 0.7480 and is slightly retreating from that level.

Overall trend is bullish as long as support 0.7380 holds.

The minor support is around 0.7380 and break below will target 0.7350/0.7315.

Indicator (1 hour chart)

CCI (50) - Buy

CCI (14) -Buy

Ichimoku-Buy


It is good to buy at dips around 0.7430 for the target of 0.7500/0.7535 with stop around 0.7375.

 

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