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EUR/GBP retreats from higher level, good to buy at declines

RES 4: 0.7525 (50% retracement of 0.80220 and 0.7013) RES 3 0.7480 (May 7th High) RES 2 : 0.7438 (88.6% retracement of 0.7482 and 0.7545) RES 1: 0.7380 (Support turned into resistance) PRICE: 0.7333 @12:59 GMT SUP1 : 0.7…

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  • RES 4: 0.7525 (50% retracement of 0.80220 and 0.7013)
  • RES 3 0.7480 (May 7th High)
  • RES 2 : 0.7438 (88.6% retracement of 0.7482 and 0.7545)
  • RES 1: 0.7380 (Support turned into resistance)

      PRICE: 0.7333 @12:59 GMT 

  • SUP1 : 0.7325 (7 day 4H EMA)

  • SUP2: 0.7260 (20 day 4 HMA)

  • SUP3: 0.7210 (200 day 4 HMA)
  • SUP4: 0.7165 (55 day 4 H EMA)

EUR/GBP has made a high of 0.7380 and is slightly retreating from that level. Overall trend is bullish as long as support 0.7260 holds. 


The Pair's minor support is around 0.7320 and break below will drag the pair further down till 0.7260/0.7200..

 
It is good to buy at dips around 0.7330 with stop around 0.7255 for the target of 0.7430/0.7480.

 

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