FxWirePro: Go long EUR/GBP on breaks above 0.7040, target 0.71

EUR/GBP is currently testing strong resistance at 0.7040 levels, breaks above cloud take the pair to 0.7079 levels.

• The pair has retreated from double top at 0.7079 (Nov 24, 25) and 21 DMA at 0.7065 continues to exert bearish pressure on the pair
   
• 0.7015 (double bottom 24, 26 Nov) is good support on the downside, breaks below could take the pair to 0.6985 levels
   
• Daily Stochs and RSI are biased higher, breaks above 0.7079 could target 0.7100 (23.6 % Fibo of Oct 13 to Nov 17 fall) and then 0.7126 (Daily High Nov 10) 

Good to go long on breaks above 0.7040, SL: 0.6980, TP1: 0.7079, TP2: 0.71 

Resistance Levels: 

R1: 0.7065 (21 DMA) 

R2: 0.7079 (double top Nov 24, 25) 

R3: 0.7108 (Daily High Nov 12) 

Support Levels: 

S1: 0.7037 (10 DMA) 

S2: 0.7015 (double bottom 24, 26 Nov)
 
S2: 0.6985 (Trendline support)