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EUR/GBP pares its gains in European session, good to sell on rallies

  • RES 2: 0.7380 (Apr 3rd High)
  • RES 3: 0.7325 (200 day HMA)

  • RES2: 0.7260 (May 11th high)

  • RES1 :0.7225 (Support turned in to resistance)

      PRICE: 0.7177 @11:06 GMT 

  • SUP1: 0.7156

  • SUP 2:0.7115 (23rd Apr low)

  • Sup 3: 0.7010 (Mar 11th low)

  • SUP4: 0.683 (138.2% retracement of 0.7010 and 0.748)

EUR/GBP has recovered till 0.7225 after making a low of 0.7139. Overall trend is bearish as long as resistance 0.7260 holds.

The minor support is around 0.7160 and break below will target 0.7085/0.7015.

Indicator (1 hour chart)

CCI (50) - Sell

CCI (14) -Buy

Ichimoku-Sell

It is good to sell around 0.7215 for the target of 0.7080 with stop around 0.7260.

 

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