GBPUSD trade Idea

• RES 4: 0.7420 (Aug 24th high)
• RES 3: 0.7380
• RES 2: 0.7350 (61.8% retracement of 0.7420 and 0.7250)
• RES 1: 0.7327 (20 day HMA)

PRICE: 0.72880@ 12:11 GMT 

• SUP 1: 0.7250
• SUP 2: 0.7210 (Cloud bottom)
• SUP 3: 0.7150 (200 day HMA)
• SUP 4 : 0.7125 (61.8% retracement of 0.6950 and 0.7420)

EUR/GBP has made a high of 0.7420 and retreats from that level.

Overall trend is still weak as long as resistance 0.7350 holds.

On the higher side minor resistance is around 0.7350 and any break above would extend gains till 0.7390/0.7420.

It is good to sell on rallies around 0.7300 with SL around 0.7350 for the TP of 0.7155/0.7105.