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EUR/GBP recovers from the low of 0.7020, further weakness only below 0.6980

RES 4: 0.7210 (Jun 22nd high) RES 3: 0.7193 (200 day 4 HMA) RES 2: 0.7106 ( 20 day 4 H EMA) RES 1: 0.7078 (3 day 4 H EMA) PRICE: 0.7040@ 11:57 GMT SUP 1: 0.7000 SUP 2: 0.6980 (Jun 29th low)_ SUP 3: 0.6928 (138.2% retrace…

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  • RES 4: 0.7210 (Jun 22nd high)

  • RES 3: 0.7193 (200 day 4 HMA)

  • RES 2: 0.7106 ( 20 day 4 H EMA)

  • RES 1: 0.7078 (3 day 4 H EMA)

      PRICE: 0.7040@ 11:57 GMT 

  • SUP 1: 0.7000

  • SUP 2: 0.6980 (Jun 29th low)_

  • SUP 3: 0.6928 (138.2% retracement of 0.70545 and 0.73879)

  • SUP 4: 0.6834 (138.2% retracement of 0.7013 and 0.7482)

EUR/GBP has made a low of 0.7020 and recovered from that level . In daily chart it has formed bullish divergence , a jump till 0.7140 cannot be ruled out.

The pair's minor support is around 0.6980 and break below will drag the pair further down till 0.6925/0.6835.

It is good buy at dips  around 0.7025 with stop around 0.6980 for the target of 0.7140

 

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