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FxWirePro:EUR/GBP recovers from the low of 0.6925, good to sell on rallies

  • RES 4: 0.7156 (200 day 4 HMA)

  • RES 3: 0.7095 (Kijun-Sen)

  • RES 2: 0.7033 (Kijun-Sen)

  • RES 1: 0.6970 (20 day 4 HEMA)

      PRICE: 0.6970@ 11:46MT 

  • SUP 1: 0.6970 (7 day 4 HEMA)

  • SUP 2: 0.6940 (Jul 17th low)

  • SUP 3: 0.6928 (138.2% retracement of 0.70545 and 0.73879)

  • SUP 4: 0.6834 (138.2% retracement of 0.7013 and 0.7482)

EUR/GBP has made a low of 0.6929 and recovered from that level. Overall trend is still weak as long as resistance 0.7000 holds.

 The pair's minor support is around 0.6925 and break below will drag the pair further down till 0.6835.

 It is good sell on rallies around 0.7000 with stop around 0.7100 for the target of 0.6835

 

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