Fxwirepro: Eur/gbp Consolidates Within Narrow Range, Good to Buy at Dips

• RES 4 : 0.7420 (Aug 24^th high)
• RES 3: 0.7395 ( Sep 1^st high)
• RES 2: 0.7350 (61.8% retracement of 0.7420 and 0.7250)
• RES1 0.7320 (20 day 4 HMA)                              

      PRICE: 0.7340@ 11:47 GMT 

• SUP 1: 0.7309 ( 55 day 4 H EMA)
• SUP 2: 0.7240 (Aug 30^th Low)
• SUP 3: 0.7190 ( 200 day 4 HMA)
• SUP 4: 0.7168 (61.8% retracement of 0.7027 and 0.7420)

EUR/GBP has recovered till 0.7358 after making a low of 0.7241. It is currently trading at 0.7345. The pair’s major support is around 0.7240 and any break below will take the pair further down till 0.7160.

Short term trend is bullish as long as support 0.7240 holds.

On the higher side minor resistance is around 0.7360 and any break above would extend gains till 0.7430.

It is good to buy at dips around 0.7290-95 with SL around 0.7240 for the TP of 0.7400/0.7425.

The material has been provided by InstaForex Company – www.instaforex.com