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FxWirePro: EUR/GBP rebounds from 0.7232 lows, but struggling at cloud top

EUR/GBP pullback found support at daily Tenkan by 0.7235, weakness seen on break below 200 DMA at 0.7201. Rally in the pair has stalled by 61.8 % Fib of Oct 13th to Nov 17th dip at 0.73, bulls unable to take the pair hig…

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FxWirePro: EUR/GBP rebounds from 0.7232 lows, but struggling at cloud top
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EUR/GBP pullback found support at daily Tenkan by 0.7235, weakness seen on break below 200 DMA  at 0.7201.

  • Rally in the pair has stalled by 61.8 % Fib of Oct 13th to Nov 17th dip at 0.73, bulls unable to take the pair higher
     
  • Price action languishing inside the cloud, Stochs are at overbought, could see some unwinding
     
  • Immediate resistance is seen at 0.7267 (Could top), while support on the downside is seen at 0.7235 (Daily Tenkan)

Resistance Levels:

R1: 0.7267 (Could top)     

R2: 0.73 (61.8 % Fib of Oct 13th to Nov 17th dip)

R3: 0.7305 (Daily High Dec 16)

Support Levels:

S1: 0.7235 (Daily Tenkan)

S2: 0.7239 (10 DMA)

S3: 0.7201 (200 DMA)

 

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