- RES 4: 0.7145 (200 day 4 HMA)
- RES 3: 0.7100 (Cloud top)
- RES 2: 0.7041(38.2% retracement of 0.7222 and 0.69297)
- RES 1: 0.7000 (Kijun-Sen)
PRICE: 0.6991@ 12:02 GMT
- SUP 1: 0.6966 (7 day 4 HEMA)
- SUP 2: 0.6940 (Jul 17th low)
- SUP 3: 0.6928 (138.2% retracement of 0.70545 and 0.73879)
- SUP 4: 0.6834 (138.2% retracement of 0.7013 and 0.7482)
EUR/GBP has made a low of 0.6929 and recovered from that level. Overall trend is still weak as long as support 0.6940 holds.
The pair’s major support is around 0.6925 and break below will drag the pair further down till 0.6835.
It is good to buy at dips around 0.6980 with stop around 0.6940 for the target of 0.7130.
The material has been provided by InstaForex Company – www.instaforex.com