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FxWirePro: EUR/GBP supported above hourly Kijun at 0.7326 , good to buy dips

The bid tone on the EUR weakened again in the European session on Monday, pushing the EUR/GBP pair lower towards the 200-DMA located at 0.7323.

  • The pair has pared some losses and has edged higher to hit session highs at 0.7350, taking support by hourly Kijun at 0.7326 
     
  • EUR/GBP is currently trading at 0.7340, with immediate resistance at 0.7358 (Hourly High Sept 14), breaks above could take the pair to 0.7380 levels
     
  • Strong support on the downside is seen between 0.7240/44 zone. Immediate support is seen at 0.7326 (hourly Kijun) and then at  0.7322 (200 DMA)
     

 

Recommendation: Good to buy dips around 0.7330/35, SL: 0.7320, TP: 0.7380

Resistance Levels:

R1: 0.7358 (Hourly High Sept 14)

R2: 0.7376 (Daily High Sept 3)

R3: 0.7395 (Double Day Top Sept 1, 2)

Support Levels: 

S1: 0.7326 (hourly Kijun)

S2: 0.7324 (10 DMA)

S3: 0.7322 (200 DMA)

  • Market Data
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