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EUR/GBP struggles to break above 200 day 4HMA, decline till 0.6925 is possible

  • RES 3 : 0.7225 (Jul 10th high)

  • RES 2: 0.7158 (50 % retracement of 0.7380 and 0.6929)

  • RES 2 :0.7096 (200 day 4 HMA)

  • RES 1: 0.7036 (7 day 4 HMA)

      PRICE: 0.7007 @ 12:09 GMT 

  • SUP 1: 0.7030 (Cloud bottom)

  • SUP2: 0.6995 (Cloud Top)

  • SUP 2: 0.6960 (Jul 22nd low)

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

EUR/GBP has broken short term support 0.7050 and is currently trading at 0.7011. Overall trend is weak as long as resistance 0.7100 holds.

 The pair's major resistance is around 0.7040 and break above will extend gain till 0.7100.

It is good to sell on rallies around 0.750-55 with stop around 0.7100 for the TP of 0.6925.

 

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