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EUR/GBP recovers after making a low of 0.7050, good to buy at declines

RES 4: 0.7282 (May 18th high) RES 3: 0.7232 (May 19th high) RES2:0.72012 (61.8% retracement of 0.7285 and 0.7639) RES3 : 0.7168 (200 day HMA) PRICE: 0.7147 @11:04 GMT SUP1 : 0.7130 (200 day HMA) SUP2 : 0.7080 (55 day H E…

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  • RES 4: 0.7282 (May 18th high)

  • RES 3: 0.7232 (May 19th high)

  • RES2:0.72012 (61.8% retracement of 0.7285 and 0.7639)

  • RES3 : 0.7168 (200 day HMA)

     PRICE: 0.7147 @11:04 GMT 

  • SUP1 : 0.7130 (200 day HMA)

  • SUP2 : 0.7080 (55 day H EMA)

  • SUP3: 0.7060 (61.8% projection of 0.74820 to 0.71217 from 0.72822)

  • SUP 4: 0.7022 (161.8% retracement of 0.71217 and 0.72822)

EUR/GBP has recovered till 0.7148 after making a low of 0.7054. Overall trend is bullish as long as support 0.7050 holds.


The Pair's minor resistance is around 0.7165 and break above will target 0.7230/0.7280.

It is good to buy at dips around 0.7125 with stop around 0.7050 for the target of 0.7230/0.7280.

 

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