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EUR/GBP trades below 0.7115, decline till 0.7020 is possible

RES2:0.7181 (200 day HMA) RES3 : 0.7165 (May 22nd High) RES 2: 0.7099 (20 day HMA) RES 2: 0.7088 (7 day H EMA) PRICE: 0.7090 @11:19 GMT SUP1: 0.7060 (61.8% projection of 0.74820 to 0.71217 from 0.72822) SUP 2: 0.7022 (16…

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  • RES2:0.7181 (200 day HMA)

  • RES3 : 0.7165 (May 22nd High)

  • RES 2: 0.7099 (20 day HMA)
  • RES 2: 0.7088 (7 day H EMA)

      PRICE: 0.7090 @11:19 GMT 

  • SUP1: 0.7060 (61.8% projection of 0.74820 to 0.71217 from 0.72822)

  • SUP 2: 0.7022 (161.8% retracement of 0.71217 and 0.72822)

  • SUP3: 0.6922 (100 projection of 0.74820 to 0.71217 from 0.72822)

  • Sup4: 0.680

EUR/GBP has broken  major support 0.7115 and this confirms short term bearishness, a decline till 0.7020 cannot be ruled out


The Pair's minor resistance is around 0.7165 and further bullish can be seen only above this level.

 
It is good to sell on rallies around 0.7125 with stop around 0.7166 for the target of 0.7025.

 

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