• The EUR /USD pair declined on Friday as British elections failed to deliver a clear majority for Prime Minister Theresa May, dragging euro lower and helping lift the dollar index.
   
• The election has left the United Kingdom with a hung parliament as the ruling Conservative Party lost its majority while still emerging as the largest party, in a result that has cast doubt over Prime Minister Theresa May's leadership and over the course of Brexit talks due to start in just 10 days.
   
• The euro extended overnight losses and was 0.3 percent lower at $1.1181, off a seven-month high of $1.1285 touched a week ago on improved growth prospects in Europe and a broadly weaker dollar.
   
• The ongoing weakness is set to continue for this pair as the resistance level at 1.1239 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
   
• To the upside, the immediate resistance can be seen at 1.1189, a break above this level would expose the pair to next resistance level at 1.1239.
   
• To the downside, immediate support can be seen at 1.1140, a break below at this level will open the door towards next level at 1.1107.
  
  Resistance Levels
  
  R1:  1.1189 (50% Retracement level)       
  
  R2: 1.1239 (61.8% Retracement level)    
  
  R3: 1.1270 (June 8th high)
  
  Support Levels
  
  S1: 1.1140 (38.2% Retracement level)                    
  
  S2: 1.1107 (May 30th lows)
  
  S3: 1.1078 (23.6% Retracement level)