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EUR/GBP breaks major 200 day MA support, decline till 0.7240 is possible

  • RES 4: 0.7480 (May 5th 2015)
  • RES 3: 0.7450 (Oct 2nd 2015)
  • RES 2: 0.7401 (Kijun-Sen)
  • RES 1 :0.7340(200 day 4HMA)                 

PRICE: 0.7318 @ 11:24 GMT 

  • SUP 1: 0.7300 (Sep 25th 2015)
  • SUP 2: 0.7240
  • SUP 3: 0.7195 (Sep 22nd low)
  • SUP 4: 0.7150 (61.8% retracement of 0.6950 and 0.7490)

EUR/GBP has broken major support 0.7340 and this confirms short term weakness , decline till 0.7240 is possible .  Overall trend is still weak as long as resistance 0.7360 holds

Any break below 0.7300 will target 0.7240/0.7195

On the higher side minor resistance is around 0.7360 and any break above would extend gains till 0.7400/0.7450.

It is good to sell on rallies around 0.7340 with SL around 0.7380 for the TP of 0.7240.

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