FxWirePro: EUR/GBP rejected at 0.7334, good to sell rallies

EUR/GBP was better bid vs the British pound in the early European trades, edging to session highs by 0.7334

• The pair was however rejected at highs and currently trades at 0.7300, with 200 DMA  at 0.7363 offering strong resistance
• Supports on the downside are seen at 0.7299 (100 HMA) and then at 0.7293 (Daily Low Aug 26)
• Bearish crossover on slow stochs on hourlies shows scope for further fall, pair likely to test levels under 100 HMA 

Recommendation: Good to sell rallies around 0.7315/20, SL: 0.7340, TP: 0.7260

Resistance Levels:

R1: 0.7363 (200 DMA)

R2: 0.7364 (Daily High Aug 26)

R3: 0.7421 (Daily High Aug 24)

Support Levels:

S1: 0.7299 (100 HMA)

S2: 0.7293 (Daily Low Aug 26)

S3: 0.7260 (Daily Low Aug 25)