EUR/GBP recovers from 0.7120 (double bottom),target 0.730

FX:EURGBP   Euro / British Pound
118 0 1

•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: 0.7183 @11:43 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 formed a double bottom around 0.7120 and recovered from that level. Intraday trend is bullish as long as support 0.7120 holds.

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

Indicator (1 hour chart)

CCI (50) – Buy

CCI (14) –Buy


It is good to buy around 0.7180 for the target of 0.7300 with stop around 0.7150.
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