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EUR/GBP faces strong support at 0.7050, good to sell on rallies

Thursday, June 25, 2015 11:42 AM UTC

RES 3: 0.7210 (Jun 22^nd high)

RES 3: 0.7197(200 day HMA)

RES 2 : 0.7166 (55 4H EMA)

RES 1: 0.7127 (7 day 4H EMA)

PRICE: 0.7124 @ 11:35 GMT

SUP 1: 0.7115
SUP 2: 0.7050 (May 26^th low)
SUP 3: 0.700
SUP4 : 0.6926 (138.2 % retracement of 0.7054 and 0.73879)

EUR/GBP has broken short term support 0.7120 and declined till 0.7079. Overall trend is weak as long as resistance 0.7180 holds.

The pair's minor support is around 0.7050 and break below will drag the pair further down till 0.7000/0.6930.

It is good to sell on rallies around 0.7130 with stop around 0.7180 for the target of 0.7050/0.7000.

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EUR/GBP faces strong support at 0.7050, good to sell on rallies

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