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EUR/GBP faces resistance around 55 day HEMA, further selling cannot be ruled out

  • RES 3: 0.7295 (61.8% retracement of 0.7385 and 0.7145)
  • RES 3: 0.7255 (200 day HMA)
  • RES 2: 0.7202 (Cloud bottom)
  • RES 1: 0.7166 (7 day H EMA)

      PRICE: 0.7165 @12:00 GMT 

  • SUP 3: 0.7165 (resistance turned into support)

  • SUP 4: 0.7115

  • SUP 4: 0.7050 (May 26th low)

  • SUP 4: 0.700

EUR/GBP has broken major support 0.7165  and this confirms short term weakness, decline till 0.7050 cannot be ruled out

The pair's minor support is around 0.7115 and break below will drag the pair further down till 0.7050/0.7000.

It is good to sell on rallies around 0.7180 with stop around 0.7240 for the target of 0.7080/0.7050.

 

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