FxWirePro: EUR/GBP weak, upbeat UK service PMI could spur further falls

 

• EUR/GBP is trading at multi-day lows by 0.6969 and is consolidating below the 0.70 handle
  
  
• 10 & 30-DMAs are negatively aligned, reinforcing the overall bearish bias
  
  
• Immediate support is seen at 0.6965, breaks below which could extend falls to 0.6935 (2015 Low Jul 17)
  
  
• UK service PMI data is due at 0830 GMT, 58.0 (forecast), any positive surprises could spur further falls
  
  

Resistance Levels:

R1: 0.6998 (Session High Aug 5)

R2: 0.7045 (10-Day MA/Daily High Aug)

R3: 0.7051 (21-Day MA)

Support levels:

S1: 0.6965 (Daily Low Jul 22)

S2: 0.6935 (2015 Low Jul 17)

S3: 0.6933 (30-Day Lower Bollinger)