- RES 4: 0.7270 (trend line resistance)
- RES 3 : 0.7225 (Jul 10th high)
- RES 2: 0.7158 (50 % retracement of 0.7380 and 0.6929)
- RES 1: 0.7107(200 day 4 HMA)
PRICE: 0.7072@ 11:40 GMT
- SUP 1: 0.7060 (Kijun-Sen)
- SUP2: 0.6991 (Cloud Top)
- SUP 2: 0.6960 (Jul 22nd low)
- SUP 3: 0.6928 (138.2% retracement of 0.70545 and 0.73879)
EUR/GBP has made a high of 0.71595 and is retreated from that level.. Overall trend is still bearish as long as resistance 0.7160 holds.
The pair’s major resistance is around 0.7160 and break above will extend gain till 0.7225/0.7270.
It is good to sell on rallies around 0.7100 with stop around 0.7160 for the TP of 0.6980.
The material has been provided by InstaForex Company – www.instaforex.com